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
$21.60 |
Change
-0.440(2.00%) |
Mkt cap ! $66.50B |
Open | High | Low | Value | Volume |
$21.61 | $21.75 | $21.48 | $124.3M | 5.563M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
27 | 13352 | $21.60 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$21.61 | 3342 | 21 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
27 | 13523 | 21.600 |
22 | 16783 | 21.590 |
33 | 22610 | 21.580 |
19 | 10998 | 21.570 |
16 | 8565 | 21.560 |
Price($) | Vol. | No. |
---|---|---|
21.610 | 3843 | 24 |
21.620 | 10933 | 27 |
21.630 | 7480 | 16 |
21.640 | 7168 | 17 |
21.650 | 8639 | 20 |
Last trade - 14.00pm 19/07/2024 (20 minute delay) ? |
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FMG (ASX) Chart |