Over 4 bucks?
Underlying earnings for fy18 will be a lot higher than fy17. I'll try work out a forward PE later but the stock is still cheap in my opinion.
The upcoming quarterly will show this. All commodities have jumped sharply in the last 3 months and even in the second half of fy17 commodities prices were much stronger than the first half fy17. I'm hoping the divi for the second half to be above 10 cents and another 10 cents for the full year divi fy18. I got no reason to sell because it's just going to cost me a big tax bill when I think the ultimate direction is up for the share price.
Add in the fully franked dividends and it's a pretty sound investment. The buyback will support the price and I think they will still have roughly 2+ billion dollars to continue to evaluate and take interests in other companies..Arizona mining is obviously their first target.
Also I don't see aluminium and other base metal commodities falling back until the end of the Chinese winter months which is around march.
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