I agree with this, everyone seems to forget that the average price for the first half of the year was $64 and FMG cleaned up!
The stock price is driven heavily by sentiment still and when Fe prices are dropping it will continue to suffer. A bit of stability whilst the debt is paid down and the real value of FMG becomes obvious to everyone would be very welcome!
For now the sentiment (Shorters) vs value (LT) struggle continues as is evident on this forum, but I feel the closer we get to the EOFY above $65 Fe (and as a consequence getting cloe to $0 debt) the harder it is going to get for investors to ignore the fundamentals.
Iron ore price, page-179
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Last
$17.21 |
Change
0.200(1.18%) |
Mkt cap ! $53.17B | |||
| Open | High | Low | Value | Volume |
| $17.22 | $17.37 | $17.15 | $45.70M | 2.646M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 4846 | $17.20 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.21 | 3488 | 11 |
View Market Depth
| Last trade - 12.13pm 20/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |