The stock has had a great run and is now finding a base as holders lock in recent profits. The IO price is stable and may even move up so have some patience as it is unlikely to drop much more from here before starting the next leg up. The fundamentals for the stock are excellent and if you read the investor presentation they released this week to the ASX you will see that it is trading on a an extremely low pe when compared to other mining stocks.
We should get an announcement on further debt reduction soon also as they are sitting on 3.4 billion in cash and this will also see the stock move higher.
why gs should be ignored, page-5
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Last
$17.73 |
Change
-0.210(1.17%) |
Mkt cap ! $54.59B | |||
| Open | High | Low | Value | Volume |
| $17.86 | $18.00 | $17.67 | $106.1M | 5.956M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3136 | $17.73 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.76 | 10562 | 2 |
View Market Depth
| Last trade - 16.10pm 15/11/2024 (20 minute delay) ? |
| FMG (ASX) Chart |