@golden6
Read this page from their website as to The Capital Group Companies outlook on iron ore and other mining stocks. They have been around for 91 years so have lived though many historical boom and bust cycles. They would not be jumping onboard at this point in time if they did not see plenty of blue sky ahead.
https://www.capitalgroup.com/apac/capitalideas/articles/is-the-spike-in-commodity-prices-sustainable.html
Here is a snippet from the link. Read the whole page on the link provided to get the full story why they invested such a sizable sum into FMG at this point in time.Metals industry poised to shine
From an investment perspective, this has clear implications for the metals & mining sector. It has been a neglected area of the market for more than a decade — even longer if you exclude the last major price spike during the 2008 global financial crisis.
The sector has been undervalued for years and remains so today despite a recent rally in mining company stocks, says Douglas Upton, a Capital Group equity analyst who has covered commodity markets for more than 30 years. Upton thinks many commodity prices will remain high for years due to chronic under investment by the industry since 2015. The problem is exacerbated by the fact that it takes more time than it did in the past to launch new mining projects.
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Last
$25.73 |
Change
0.160(0.63%) |
Mkt cap ! $79.40B |
Open | High | Low | Value | Volume |
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15 | 3816 | 25.720 |
13 | 3617 | 25.710 |
15 | 3625 | 25.700 |
12 | 3504 | 25.690 |
Price($) | Vol. | No. |
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25.740 | 1226 | 12 |
25.750 | 12654 | 12 |
25.760 | 4847 | 11 |
25.770 | 2231 | 9 |
25.780 | 5155 | 9 |
Last trade - 14.38pm 03/05/2024 (20 minute delay) ? |
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Last
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Change
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Last updated 14.57pm 03/05/2024 ? |
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