Why is this share price sub $5 (really should read sub $7)when over the next few years iron ore is considered to stay within the range of $120-140/tonne.
Do the maths on the low end of that range....155mtpa with a profit margin circa $50/tonne. That's a big number, and in comparison to previous years profit i'm just blown away. This stock is great evidence of how shorters can manipulate. I know there's a lot of trepidation in the market, but this is ridiculous.
IMO this is seriously undervalued for anyone with a mid-long term view....you can't be generating profits reflecting more than $1.50 a share and stay at anything near these levels. Resource boom over? Pffft. China is still growing at 7% annually. At that rate it will double in 10 years from its CURRENT BASE. Yet again "every last drop" shipped has been swallowed up.
what am i missing!!!!
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Last
$19.50 |
Change
0.620(3.28%) |
Mkt cap ! $60.03B | |||
| Open | High | Low | Value | Volume |
| $19.03 | $19.50 | $18.97 | $134.1M | 6.935M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 5000 | $19.49 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $19.50 | 30744 | 25 |
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| Last trade - 16.10pm 07/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |