That's just nonsense you have in your own head, not what analysts are saying regarding the iron ore price, in fact Goldman said today "In the near term however, ongoing strong demand from China (infra, property) and RoW, and recent mill margin strength, should limit the sustainability of any iron ore sell-off in the next few months in our view supporting strong FCF and dividends for the Fe sector into the August results".
Goldman doesn't have iron ore falling below $100 until 2023.
Once again to quote Goldman's on the valuation point "We downgrade FMG to Sell from Neutral on: (1) relative valuation trading at 1.4x NAV vs. BHP and RIO at 0.95xNAV, and 8x FY23 EBITDA (Exhibit 10) when iron ore is back at the US$80-90/t level; this compares with BHP, RIO and CIA at 4.5-5x FY23".
And it's true, when you look at long term earnings expectations for FMG, they plummet under a lower iron ore price, BHP & RIO's earnings do not.
That's just nonsense you have in your own head, not what...
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Last
$20.35 |
Change
0.590(2.99%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $19.91 | $20.50 | $19.90 | $172.3M | 8.500M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7799 | $20.33 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 1175 | 2 |
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| Last trade - 16.10pm 07/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |