Yes, I think MGX will contginue to drift downwards now that iron ore prices are coming off with additional volumes finding their way in to the market, and with China demand softer.
Share price will likely be sold off until if reflects largely the value of future cashflows from Koolan, and cash balance.
MGX share price is also at risk of making an acqusition that the market does't like. (though also has upside here, markets more often dislike acqsitions and would prefer the return of the cash in MGX's case)
If you have to be exposed to iron ore, I would go with one of the other stocks.
- Forums
- ASX - By Stock
- why down??
Yes, I think MGX will contginue to drift downwards now that iron...
Featured News
Add MGX (ASX) to my watchlist
|
|||||
Last
42.0¢ |
Change
0.010(2.44%) |
Mkt cap ! $510.2M |
Open | High | Low | Value | Volume |
41.0¢ | 42.0¢ | 40.5¢ | $1.108M | 2.659M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 4572 | 42.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
42.5¢ | 179187 | 6 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 4572 | 0.420 |
1 | 7000 | 0.410 |
7 | 313880 | 0.405 |
11 | 120705 | 0.400 |
7 | 285800 | 0.395 |
Price($) | Vol. | No. |
---|---|---|
0.425 | 179187 | 6 |
0.430 | 101285 | 8 |
0.435 | 109986 | 4 |
0.440 | 51710 | 3 |
0.445 | 7000 | 2 |
Last trade - 16.10pm 21/06/2024 (20 minute delay) ? |
Featured News
MGX (ASX) Chart |
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online