FMG 3.43% $10.25 fortescue metals group ltd

buy target 8 dollars

  1. 365 Posts.
    AEGIS Weekly Focus

    Fortescue Metals (FMG): Not out
    of the forrest but upside remains
    FMG is the owner of significant iron ore resources and is scheduled to commence
    shipping iron ore to customers in 4Q08. We have a 12-month price target of $8.03
    on the stock.
    Source: Proview / Aegis Equities
    Company Risk: Share Price Risk: Ethical Rating:
    What to do (Investors): BUY
    China has embarked on a phase of rapid economic industrialisation, including an unprecedented
    level of infrastructure development. We do not see any dramatic change in iron-ore demand, with
    forward estimates suggesting that fixed investment in China will remain strong for the foreseeable
    future. The current shortfall is being filled by high-cost domestic production.
    What to do (Trader): Medium-Term BUY, target $8.75
    FMG remains in a long-term uptrend, it remains above the August 2007 lows, and it has just
    generated another medium-term Buy signal. These point to the stock’s resilience over the past six
    months. There are few stocks that have managed to stay above their long-term uptrends. The chart
    below disguises the magnitude of the price swings in the stock - it has actually risen 50% from the
    January lows. Given this we would not be surprised to see some profit taking in the short-term; but
    the longer-term outlook remains favourable. Short-term HOLD / ACCUMULATE.
 
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Last
$10.25
Change
0.340(3.43%)
Mkt cap ! $31.55B
Open High Low Value Volume
$10.10 $10.25 $9.98 $134.7M 13.27M

Buyers (Bids)

No. Vol. Price($)
2 2900 $10.22
 

Sellers (Offers)

Price($) Vol. No.
$10.25 51623 4
View Market Depth
Last trade - 16.10pm 09/12/2019 (20 minute delay) ?
(live)
Last
$10.23
  Change
0.340 ( 3.65 %)
Open High Low Volume
$10.09 $10.25 $9.98 2894723
Last updated 15.59pm 09/12/2019 (live) ?
FMG (ASX) Chart
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