I also have asked the qu on buybacks.
As a board they simply don’t believe they add value. I believe they have clouded their analysis at looking at off market as well as on market buy backs. They need some kind of analysis to show why they are wrong with practical examples.
On market buyback given the liquidity and level of shorting and apathy in the stock is a no brainer in my opinion. Insto in oz only buy stocks on way up as they fearful of underperforming benchmarks.
In addition i believe the largest shareholder and founder would much prefer dividends(for his charity work) so it needs to be a great sell to get a buyback over the line I would imagine.
The stock is undervalued in so many metrics it simply is frustrating beyond comprehension at the moment.
It will turn....
Iron ore price, page-4446
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Last
$21.41 |
Change
-0.260(1.20%) |
Mkt cap ! $65.92B | |||
| Open | High | Low | Value | Volume |
| $21.52 | $21.67 | $21.30 | $150.5M | 7.000M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 93 | $21.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.41 | 12657 | 3 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FMG (ASX) Chart |