Agree.
But apart from the debt issues that has been the greatest concern for the market and that analysts always refer to "debt ridden" etc etc..
Forgetting that they had debt of circa $12.0b gross and now it is $6.0b gross in such a short time and with io prices in free fall last year
A share buy back would assist, however the market does not like the fact they are a one product company.
They should look to acquire another company in a different market or develop their own mine (nickel; etc..)
In reality taking into account that they held on to their world class infrastructure assets, have no JV mines and heaps of reserves. They are in a better position than the majors, especially after the debt is reduced and gross gearing is circa 20.00%.
The dividends will just be obscene compared to BHP
Iron Ore Price, page-13816
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Last
$17.50 |
Change
0.840(5.04%) |
Mkt cap ! $53.88B | |||
| Open | High | Low | Value | Volume |
| $16.89 | $17.74 | $16.84 | $346.2M | 19.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5870 | $17.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.50 | 12148 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |