It's just because FMG's price got to high.
Here is FMG's forward PE compared to BHP's over the last 3 years, until recently FMG never traded at a premium to BHP:
Its the same story compared to RIO, except FMG still looks expensive:
Iron ore price, page-44116
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Last
$18.23 |
Change
0.255(1.42%) |
Mkt cap ! $55.89B | |||
| Open | High | Low | Value | Volume |
| $18.09 | $18.32 | $18.06 | $63.19M | 3.479M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 16 | 5544 | $18.22 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.23 | 7859 | 18 |
View Market Depth
| Last trade - 12.53pm 26/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |