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.
FMG Price at posting:
$4.61 Sentiment: Buy Disclosure: Held
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