I have made some rough calculations to give me an estimated future share price.
BASIS
Revenue = $70 pt iron ore price
Opex = $40 pt
FMG = 50% of profit
Volume = 3 million tonnes p.a.
Shares on issue = 84 million
Therefore $70 - $40 = $30 x 3,000,000 = $90,000,000
Less $45,000,000 (FMG)= $45,000,000 p.a.
$45,000,000 divided by 84,000,000 =$0.5357 profit per share.
Assume a p/e of 10 & the share price becomes $5.357 or rounded $5.38.
If I have made an error in my assumptions or calculations please let me know, otherwise the sp looks currently rather undervalued.
Also let me know if you believe the figures need refining & what your valuation is & on what are you basing your calculations.
I have made some rough calculations to give me an estimated...
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