A downgrade to sell by Citi is what I believe was the catalyst for yesterday's sell-off, but I suspect the issue with analyst models is a terminal IO price assumption that is just too low.... and on that note, IO is within spitting distance of a fresh high for this little uptrend after a good night of gains... it's surprising to see IO stocks so weak in light of that TBH, especially considering the AUD was down as well:
Iron ore price, page-50110
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Last
$18.54 |
Change
-1.815(8.92%) |
Mkt cap ! $57.08B | |||
| Open | High | Low | Value | Volume |
| $18.59 | $18.68 | $18.47 | $226.7M | 12.19M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 8 | 4884 | $18.53 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.54 | 8321 | 32 |
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| Last trade - 11.34am 30/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |