If investment grade isn't going to be awarded until your form of diversification is attained and management have stated that thier not doing that, then what does it matter in your opinion.
FMG'S position as I see it,
$1.7B cash on hand,
Ebita of $300M to $400M per month.
no debt that can be paid back early until March next year,
22% gearing nearly half of what management has state publicly was acceptable (40%),
Maintaining dividend not a problem I'd suggest.
Or do we listen to a market driven by wet behind the ears gamlers(shorters) gambling on charts.
Hmmm, hard decision that. Not!
Iron ore price, page-1452
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Last
$18.10 |
Change
-0.340(1.84%) |
Mkt cap ! $55.72B | |||
| Open | High | Low | Value | Volume |
| $18.33 | $18.39 | $18.08 | $121.3M | 6.626M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50 | $18.10 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.14 | 3000 | 1 |
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| Last trade - 16.10pm 08/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |