IO price slumps further
Forward Iron Ore Price Index (US$/dmt, CFR Qingdao)
2019-08-21 Today Yesterday Change DoD Last Month Change MoM Last Year Change YoY 1 62% Fe fines 84.03 88.53 -5.10% 120.83 -30.50% 66.37 26.60% 2 58% Fe fines 64.45 69.45 -7.20% 102.45 -37.10% 46.54 38.50% 3 65% Fe fines 91.05 97.45 -6.60% 129.17 -29.50% 94.26 -3.40% 4 62.5% Fe lumps premium 0.14 0.14 -2.80% 0.28 -50.70% 0.28 -49.40% 5 65% Fe concentrates premium 2.48 2.55 -2.80% 2.89 -14.20% -1.5 265.30% 6 65% Fe pellets premium 21.55 21.75 -0.90% 21.43 0.60% 56.0 -61.50%
Is MGX SP overvalued? To justify 74c SP the dividend should be 5c. The second condition is the cash balance today and the estimated one in 5 years time, which is required to underpin the return of the invested money to the shareholders and close the business meeting all obligations. This is not very easy to calculate as many scenarios are possible. My estimate is 60c to 70c.
IO price slumps furtherForward Iron Ore Price Index (US$/dmt,...
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Last
29.5¢ |
Change
0.010(3.51%) |
Mkt cap ! $359.4M | |||
| Open | High | Low | Value | Volume |
| 28.5¢ | 29.5¢ | 28.5¢ | $637.1K | 2.210M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 100000 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 275537 | 4 |
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| Last trade - 16.10pm 05/09/2024 (20 minute delay) ? |
| MGX (ASX) Chart |