Fortescue Metals (FMG) continues to hit record highs - up 140c to 4990c. Merrill Lynch said overnight that a 2008 iron ore contract price rise of 50% is "not unrealistic” and that the supply/demand outlook is tighter than in 2005 when contract prices rose 71.5%. FMG is now a top 50 stock yet surprisingly enough none of the major brokers cover the stock.
Fortescue Metals(FMG) is in record territory on back of bullish comments regarding the iron ore price from Merrill Lynch overnight. It now has a market cap. of $13.5bn. Looks like Charlie Aitkens of Southern Cross Equities was on the money when he called FMG a $50 stock earlier in the year.
valuations, page-2
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Last
$20.35 |
Change
0.210(1.04%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $20.41 | $20.76 | $20.26 | $183.4M | 8.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2123 | $20.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 4581 | 2 |
View Market Depth
| Last trade - 16.10pm 26/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |