Greatone has given an answer to your valuation question - which aligns well with what I'm thinking.
I think the more pertinent question though is what do the larger holders/traders think the long-term average IO price will be, and what does that look like for profitability, earnings and P/E?
The challenge is I think they mostly have their input at well under $100/t - so many can't or won't be buyers at this level. Of course when they wake up and realise that there is no magic pudding coming from Brazil or Africa any time soon we may get a significant bump (and/or when FFI starts showing results in regards to diversification within a few years).
Greatone has given an answer to your valuation question - which...
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Last
$22.41 |
Change
-0.210(0.93%) |
Mkt cap ! $68.99B | |||
| Open | High | Low | Value | Volume |
| $22.36 | $22.61 | $22.30 | $82.59M | 3.681M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 500 | $22.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.42 | 11435 | 2 |
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| Last trade - 16.10pm 05/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |