December Update

Date 14/12/2023

Overvalued shares – Sell

Fortescue Metals Group – fair value as $16.88/ share. At the last closing price of $17.59, FMG is trading at a 4.2% premium to our valuation. Accordingly, FMG is regarded as ‘Fairly valued’ at current levels. Given that the share price has dropped 20% and normally trading over its fair value we see this as an opportunity to pick up a small parcel with the view to add to the holding over time.

Origin Energy – At the last closing price of $9.22, ORG is trading at a 60.6% premium to our valuation. Accordingly, ORG is regarded as ‘Overvalued’ at current levels.

Undervalued shares – Buys

South 24 – fair value as $4.06/ share. At the last closing price of $3.66, S32 is trading at a 9.8% discount to our valuation. Accordingly, S32 is regarded as ‘Undervalued’ at current levels.

QBE Insurance Group – fair value as $18.11/ share. At the last closing price of $15.38, QBE is trading at a 15.1% discount to our valuation. Accordingly, QBE is regarded as ‘Undervalued’ at current levels.

Telstra – TLS’s fair value as $4.67/ share. At the last closing price of $4.13, TLS is trading at a 11.6% discount to our valuation. Accordingly, TLS is regarded as ‘Undervalued’ at current levels.

If you have any questions, please contact our office.

Grow Your Wealth Pty Ltd

AFSL 403509

51 Thuringowa Drive

Kirwan  QLD  4817

Phone: (07) 4771 4577

Email:   [email protected]

Jason Fittler: [email protected]

Jane Fittler: [email protected]

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December 14, 2023

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