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
$20.14 |
Change
0.180(0.90%) |
Mkt cap ! $62.01B | |||
| Open | High | Low | Value | Volume |
| $20.11 | $20.40 | $19.80 | $203.8M | 10.11M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 10 | $20.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.14 | 17291 | 1 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| FMG (ASX) Chart |