There you go, if FY2017-2018 IO average US$65, NPAT is US$2.5B (rounded down)
Could be US$200M more once debt is paid off. But for the argument of shorts, just use US$2.5B.
Profit US$2.5B or A1.06 per share, at SP of $6, P/E of 5.7
If pay out still 40%, expect A42c full year dividend, or at SP of $6, a yield of 7% fully franked.
And at US$65, there will be NO Chinese IO miners making any profit, therefore price will go up again eventually.
I think people are only looking at "grades" and see BHP/RIO have much better grade and hence prices, but FMG is killing it with much lower cost. All in cost exclude interest for FMG was US$28/wmt last Half Yearly, BHP was US$31.80, and RIO Full year was US$33.30 (should be lower if use last 6 month).
FMG's balance sheet can only get stronger, maybe once Debt is paid off, we get A$1 dividend and the market will start to realise what a great buy this is at SP of $6. (p.s. it won't happen, hehe, just a joke)
DYOR.
Frank.
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$21.52 |
Change
-0.100(0.46%) |
Mkt cap ! $65.98B |
Open | High | Low | Value | Volume |
$21.60 | $21.61 | $21.25 | $97.22M | 4.531M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 3904 | $21.52 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.53 | 738 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 3904 | 21.520 |
6 | 23233 | 21.510 |
8 | 30988 | 21.500 |
1 | 32102 | 21.490 |
4 | 28425 | 21.480 |
Price($) | Vol. | No. |
---|---|---|
21.530 | 738 | 1 |
21.540 | 4837 | 1 |
21.550 | 5538 | 3 |
21.560 | 3169 | 1 |
21.570 | 2388 | 2 |
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