Iron ore price, page-13385

That's a good thing.

Many got burnt last time (when they were on the wrong side of a price correction - to where the stock should have been), no reason it won't happen again in the short-to-medium term.

They'll also make some money on days like today, and that is fine by me. But personally if I was looking at this for an investment with a timeframe greater than a month I couldn't justify any position other than long.

The P/E on this at the moment is insane. We'll probably end up somewhere around 7 when the full-year results are out - but reality is that more than half of the earnings are likely to have come from the last third of the financial year (March-June). How long it lasts is the obvious question - but it has actually improved from the March/April position - so even if it goes back to that I think the forward PE would be around 5 or 6 (haven't run numbers on that so DYOR).

Peers are between 12 and 15 P/E.