Is this Endgame for Fortescue Metals?
FMG has total debts of around $11.3Billion. Market cap today is approx. $10.5B.
That's a big problem because if the share price keeps falling much longer, debt holders will pull the plug and ask for their money back.
Only option left would be to do a capital raising. That too looks like an unlikely prospect...would you stick your money in FMG now when iron ore price s are falling and certainly won't recover within the next 6 months?
Options are slowly disappearing for FMG. I reckon they're gone.
total debts > market cap
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Last
$18.87 |
Change
0.590(3.23%) |
Mkt cap ! $57.76B | |||
| Open | High | Low | Value | Volume |
| $18.86 | $18.90 | $18.44 | $375.1M | 19.96M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 900 | $18.86 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.88 | 3586 | 4 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |