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FortescueMetals Group (ASX:FMG), trailing yield 7.43%
James Marlay: The unconventional part of the market for dividends, but they're starting to build up a track record. Fortescue Metals, spewing out cash. Buy, hold, or a sell?
Michael O'Neill (SELL): It's a sell for us. Fortescue as a pure-play iron ore producer has benefited more than the other large listed miners from the growth in the iron ore price from $100 per tonne at the start of the financial year to $160 per tonne. We look at commodity stocks and we believe they follow commodity prices. So when that supply-demand imbalance in the market corrects, not only are your longer-term dividend prospects impaired but also your capital value is at significant risk.
James Marlay: That's the main argument against owning miners for dividends. Peter, is Fortescue a buy, hold, or a sell?
Peter Gardner (BUY): It's a buy for us. So we agree with what Michael was saying, but we just think the cycle is going to take a lot longer to play out than people expect. And in terms of what the market's pricing, the market is not pricing iron ore prices to stay up $150 a tonne. Everyone knows they're going to come back, it's just a matter of when, and we think it'll take longer. And so you've got to take advantage of those dividends and good capital returns while they're there.
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Last
$21.76 |
Change
0.350(1.63%) |
Mkt cap ! $66.99B |
Open | High | Low | Value | Volume |
$21.49 | $21.76 | $21.32 | $97.85M | 4.532M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
3 | 1380 | $21.75 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.77 | 28571 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 1380 | 21.750 |
1 | 1000 | 21.730 |
1 | 700 | 21.710 |
2 | 69 | 21.700 |
1 | 200 | 21.690 |
Price($) | Vol. | No. |
---|---|---|
21.770 | 4400 | 1 |
21.780 | 23583 | 4 |
21.790 | 234 | 2 |
21.800 | 16913 | 6 |
21.810 | 12991 | 1 |
Last trade - 16.10pm 01/07/2024 (20 minute delay) ? |
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