big profit taking, plain and simple.
its risen dramatically in just weeks (up 20%), buy the rumour sell the fact.
i like the 30-40% divi payout ratio.
assume IO price suffers a bit of weakness, in FY 15 FMG make $3.4 billion Profit ($20-25 margin). 30% is a bit over $1 billion, and assuming no dilution (tongue in cheek) that is about $0.35 divi, and being relatively conservative.
the realist in me says $4b profit, 40% pay out, $0.55 dividend.
the optimist says margins will be $35, profit $5.5 bill and $0.70 dividend.
show me a resource stock with that potential coupled with relative market security.
anyone want to guess when twiggy becomes Australia's richest man?
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Open | High | Low | Value | Volume |
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1 | 1000 | 19.700 |
1 | 3000 | 19.680 |
2 | 1552 | 19.650 |
1 | 5000 | 19.630 |
Price($) | Vol. | No. |
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19.800 | 2133 | 2 |
19.830 | 750 | 2 |
19.850 | 150 | 1 |
19.870 | 2200 | 2 |
19.880 | 3834 | 3 |
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