mad
and now read this. not my opinion, from citigroup of today..they have a SELL on FMG with a tgt of $8 plus something .
please check yourself.
Fortescue Metals Group Ltd (FMG.AX)
Blue Sky Priced In
ƒæ Iron Ore Settlement ¡X Rio Tinto has settled iron ore prices with Baosteel at
+80% for fines and +96.5% for lump, in-line for fines but higher than our 85%
for lump. Modest uplift from lump settlement has been offset by a higher A$ in
FY09 and our estimate is downgraded 3% to A$840m. In FY10 our earnings
estimates have increased by 4% to A$2,540m.
ƒæ What is Priced In ¡X Our A$6.40 NPV assumes a 50% probability of expansion
to 110mtpa, +30% for the 2009 settlement (roll-over for 2010 & 2011) and a
long-term price of US$60/t. To get NPV to share price, we¡¦d have to assume a
more than doubling of existing resources, 100% conversion to reserves and all
expansions to 200mtpa. That does not appear to leave much blue sky.
ľ
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Last
$19.76 |
Change
-0.220(1.10%) |
Mkt cap ! $60.84B |
Open | High | Low | Value | Volume |
$19.66 | $19.80 | $19.20 | $191.1M | 9.763M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 4673 | $19.73 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$19.76 | 31740 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 1000 | 19.730 |
1 | 1000 | 19.700 |
1 | 3000 | 19.680 |
2 | 1552 | 19.650 |
1 | 5000 | 19.630 |
Price($) | Vol. | No. |
---|---|---|
19.800 | 2133 | 2 |
19.830 | 750 | 2 |
19.850 | 150 | 1 |
19.870 | 2200 | 2 |
19.880 | 3834 | 3 |
Last trade - 16.10pm 04/10/2024 (20 minute delay) ? |
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FMG (ASX) Chart |