Just posted up on LiveWire
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
$21.62 |
Change
-0.420(1.91%) |
Mkt cap ! $66.56B |
Open | High | Low | Value | Volume |
$21.61 | $21.78 | $21.48 | $190.2M | 8.611M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
7 | 15504 | $21.61 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.62 | 6560 | 1 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
6 | 3905 | 21.610 |
15 | 36810 | 21.600 |
2 | 4045 | 21.590 |
14 | 94719 | 21.580 |
4 | 5995 | 21.570 |
Price($) | Vol. | No. |
---|---|---|
21.650 | 1000 | 1 |
21.710 | 1032 | 2 |
21.740 | 12970 | 2 |
21.750 | 7724 | 4 |
21.760 | 14820 | 4 |
Last trade - 16.10pm 19/07/2024 (20 minute delay) ? |
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