pretty simple answer - it's undervalued
KISS principal - good co with NTA of 4.10, pays a decent divi, positive announcements, good management, paying down debt, valued by most brokers at about 4.50 (yes I've said before they can at times be wrong), demand for iron to remain firm, seeking to further diversify etc. What's not to like?
At the risk of being branded an up ramper there is every possibility that it will trade higher than 4.50 with the right announcement.
Probably repeating myself here.
T/A perfectly happy with my charts and happy to hold.
Iron ore price, page-7643
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Last
$18.16 |
Change
-0.080(0.44%) |
Mkt cap ! $55.91B | |||
| Open | High | Low | Value | Volume |
| $18.43 | $18.45 | $18.16 | $96.94M | 5.308M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 9 | 7669 | $18.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.17 | 2500 | 1 |
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| Last trade - 16.10pm 13/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |