Well when FMG gets to $1 like Qantas did I might get bullish.
To say that pessimism in the iron ore price is also priced in to the FMG SP is rubbish.
At a $8Bln market cap it does not factor in an iron ore price of $50-55/ton which is quite possible. At that price FMG will be losing money.
If you read the posts just on this thread with the clutching at straws that the FE price will rebound in 2015.
Next year production will increase by 150M tons and demand will decrease!
How on earth does that equate to a higher FE price?
It doesn't, simple as that.
The best thing FMG could do is raise a lot of capital right now & pay of a substantial amount of debt.
Without debt they will get through the slump, with debt they remain vulnerable.
iron ore price, page-750
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Last
$21.67 |
Change
0.410(1.93%) |
Mkt cap ! $66.72B | |||
| Open | High | Low | Value | Volume |
| $21.58 | $21.67 | $21.22 | $133.3M | 6.196M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 80000 | $21.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.67 | 44058 | 5 |
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| Last trade - 16.10pm 25/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |