Totally agree with Charlie view point. If we look at USD 100 Iron ore price, FMG would receive around USD $88. Currently FMG all in costs including debt are $73 USD. So margin of $15/MT USD or $20/MT AUD at 80 cents.
If producing 127M MT that is profit of 1.9B or eps of 68 cents per share. On 5x - 7x earnings that is $3.5 - $4.8.
That is $100 62% CFR China, what happens at $80?
At 90 62% FMG sells for $78 USD, margin is $5, eps $0.2 USD, AUD 0.8 $0.25
5x $1.25 7x $1.75 - $2.
However FMG have cash and assets so $2 could be worst case.
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Totally agree with Charlie view point. If we look at USD 100...
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$18.60 |
Change
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Mkt cap ! $57.26B |
Open | High | Low | Value | Volume |
$18.40 | $18.68 | $18.34 | $157.0M | 8.476M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 10105 | $18.59 |
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Price($) | Vol. | No. |
---|---|---|
$18.60 | 17942 | 8 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 10105 | 18.590 |
2 | 1750 | 18.550 |
2 | 30000 | 18.540 |
1 | 1154 | 18.530 |
2 | 167 | 18.520 |
Price($) | Vol. | No. |
---|---|---|
18.600 | 5850 | 5 |
18.610 | 18208 | 3 |
18.620 | 3000 | 2 |
18.630 | 9037 | 2 |
18.640 | 44240 | 4 |
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