Morgan's commentary this morning on why FMG is a buy at the current share price!
Fortescue has the lowest cash
cost in the pure plays
We estimate Fortescue’s current all-in cash cost including sustaining capital and adjusted to a 62% Fe basis is US$72/dmt at a CFR iron ore price of US$100/t. At US$100/t CFR and a AUS/USD exchange rate of 0.87, we estimate Fortescue’s EBITDA in FY15
will be US$4bn, implying an undemanding EV/EBITDA of 5.3x.
Basically FMG will still make $4 billion even if iron ore price averages $100 the whole year, why would anyone short the stock, do they think nobody is going to need steel in the future?
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Last
$18.97 |
Change
-0.300(1.56%) |
Mkt cap ! $58.40B |
Open | High | Low | Value | Volume |
$19.01 | $19.33 | $18.71 | $210.2M | 11.07M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 1879 | $18.95 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$18.97 | 39173 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1879 | 18.950 |
1 | 500 | 18.930 |
1 | 1000 | 18.900 |
2 | 3156 | 18.800 |
3 | 1214 | 18.790 |
Price($) | Vol. | No. |
---|---|---|
18.970 | 4239 | 1 |
18.980 | 109331 | 4 |
18.990 | 19700 | 3 |
19.000 | 15940 | 5 |
19.010 | 82079 | 3 |
Last trade - 16.10pm 09/10/2024 (20 minute delay) ? |
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