FMG released its September Quarterly report on 28/10/2021 it stated an average IO price of US$118 dmt was achieved with shipping and production forecasts exceeded, for the dividend hungry investor this would historically mean an amount of per share between .70c - .90c was being put into the Dividend kitty.
Investors seemed to realise that the stock was OVERSOLD and accordingly lifted the SP off its lows, IO price began to recover and the resumption to correlation of the IO/ SP continued.
The shorters will be around while FMG is a slave to the IO price, clearly as evidenced in their numbers by tables tendered by HC contributors they are not yet about to give up on IMO the easiest to read chart on the ASX, they will only diminish in numbers when the chart begins to require more consideration and number crunching than the old IO/SP dance and so FFI may well be the shorters nightmare at some time in the near future and add to the FMG SP but not quite yet.
Iron ore price, page-42518
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Last
$17.50 |
Change
0.840(5.04%) |
Mkt cap ! $53.88B | |||
| Open | High | Low | Value | Volume |
| $16.89 | $17.74 | $16.84 | $346.2M | 19.88M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 5870 | $17.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.50 | 12148 | 3 |
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| Last trade - 16.10pm 13/09/2024 (20 minute delay) ? |
| FMG (ASX) Chart |