I wouldn't be too concerned about the IO price dropping below USD200 it was never sustainable at that level. The issue is the long term average price because that is how analysts value fmg which is what sets the share price. Expectations of long term average price seem to have been rising recently.
A long term average IO price of USD100 would make fmg a hugely profitable company worth about $40 per share. Short term movements in the IO price affect short term earning but do not reflect the big picture.
I wouldn't be too concerned about the IO price dropping below...
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Last
$16.30 |
Change
0.420(2.64%) |
Mkt cap ! $50.18B | |||
| Open | High | Low | Value | Volume |
| $16.00 | $16.53 | $16.00 | $202.0M | 12.41M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 895 | $16.29 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $16.33 | 237 | 1 |
View Market Depth
| Last trade - 16.10pm 11/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |