See my other post - don't confuse REVENUE with EARNINGS. Even for a miner just pulling stuff out of the ground has costs, which are significant. Your P/E calculation is too optimistic by at least a factor of 2, in the short term.
Nevertheless, I agree with your sentiment that people are just dumping this stock at ridiculous prices at the moment. Of my 3 parcels, only my original buy from last year at 35c is in the green :-(
I might just have to buy some more...
hammering, page-14
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Last
$6.30 |
Change
-0.050(0.79%) |
Mkt cap ! $5.888B | |||
| Open | High | Low | Value | Volume |
| $6.34 | $6.35 | $6.29 | $13.31M | 2.111M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10973 | $6.30 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.31 | 14462 | 3 |
View Market Depth
| Last trade - 16.10pm 16/07/2024 (20 minute delay) ? |
| LYC (ASX) Chart |