I originally ignored this thread but thought I would respond.
If house prices drop by 80% then all of Australia's banks will go broke. But bank shares all trade at a much higher PE than FMG. If anything this question about iron ore at USD20 a tonne just reinforces that FMG is undervalued because by comparison to other industries like banks exposed to pricing risks FMG shares are priced more cheaply.
Will fmg survive iron at $20 ton., page-8
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Last
$21.56 |
Change
-0.485(2.20%) |
Mkt cap ! $66.87B | |||
| Open | High | Low | Value | Volume |
| $21.61 | $21.75 | $21.48 | $113.3M | 5.052M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 14 | 8882 | $21.55 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.56 | 1946 | 12 |
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| Last trade - 12.32pm 19/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |