Basically sentiment is rock bottom and this is why I think FMG is a buy.
The costs of fmg are priced in AUD and product is sold in USD - this is the currency advantage in a weak AUD.
Also the discount spread in lower grade iron ore will bottom (I think it has now) because it will become a lot more profitable for Steel makers to buy the cheap lower grade tonnes.
Sentiment is crazy bad. Need to remember this company is large, good dividend, still good margins, higher grade ore coming on line in future, extremely low cost and very good at what they do. FMG is a buy short, medium and long term at the moment imo
Buy when others are fearful (people are sh@t scared)
Basically sentiment is rock bottom and this is why I think FMG...
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Last
$25.66 |
Change
0.090(0.35%) |
Mkt cap ! $79.00B | |||
| Open | High | Low | Value | Volume |
| $25.72 | $25.86 | $25.63 | $77.37M | 3.012M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 11417 | $25.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $25.70 | 2000 | 1 |
View Market Depth
| Last trade - 16.10pm 03/05/2024 (20 minute delay) ? |
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Last
$25.72 |
Change
0.090 ( 0.55 %) |
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| Open | High | Low | Volume | ||
| $25.72 | $25.86 | $25.64 | 785342 | ||
| Last updated 15.59pm 03/05/2024 ? | |||||
| FMG (ASX) Chart |