I'm not bearish on this (and haven't been for a while, if ever...) just for clarity of where I am coming from.
But, to attempt to answer your question - I think the only case to be bearish here is the danger of FMG being a single-commodity company. The exact reason for its strength over the past 12-24 months is also the reason a case can be made for eventual weakness.
It's a little crazy - as the diversification of companies like Rio and BHP hasn't added all that much to their bottom line over the past 24 months, it has all be IO. But because FMG don't have that diversification it trades at a (not insignificant) discount to those 2.
I'm not bearish on this (and haven't been for a while, if...
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Last
$20.35 |
Change
0.210(1.04%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $20.41 | $20.76 | $20.26 | $183.4M | 8.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2123 | $20.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 4581 | 2 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |