Charger, where did you get the p/e of 10.5 from please? I just had a quick look at MIG's last half yearly report and their basic EPS was 8.73c. If we double that for the full year (which may be a bit simplistic) it means MIG is on a p/e of about 18. (I am not counting asset revaluations as EPS) My IRESS system says they are on a p/e of 129 which I think is wrong!
I know there are a number of fund managers long this stock who don't really understand it (fair enough, Macquarie have made it very complicated to understand so they can ring maximum fees out of it) and because of this, have been profit taking recently.
From a technical perspective it looks like it will be offered around $3.20 and very well offered around $3.30.
I would be interested to hear where the p/e of 10.5 comes from.
Good luck with it.
MIG Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
