Don't really know..Would like someone else to clarify this. Reckon FMG will rise on the back of the Coalition victory as s/h's will be able to continue deriving excess imputation credits on sizeable franked dividends.
Drivers that I see:-
(1) Rising Iron ore price
(2) Falling AUD exchange rate
(3) Coalition government usually good for business (not factored into shareprice last week)
(4) Vale issues with breached tailings dam walls
(5) Tailing dam issues for Chinese iron ore miner
(6) Current run up to ex-dividend dates where there are substantial franking credits
(7) Low interest rate environment
(8) Continued ability to pay franked dividends where excess franking credits can be utilised (something that was not factored into the shareprice last week).
Looks like the confluence of many positive factors. I can see $10 ex the dividend sometime in June. Interesting to see what it closes at on the last cum dividend date (this Tuesday). I'm guessing about $9.50.
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$17.34 |
Change
0.520(3.09%) |
Mkt cap ! $53.38B |
Open | High | Low | Value | Volume |
$17.31 | $17.51 | $17.00 | $309.6M | 17.18M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 300 | $17.33 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$17.35 | 28897 | 5 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 300 | 17.330 |
5 | 4952 | 17.310 |
5 | 4300 | 17.300 |
5 | 34092 | 17.290 |
7 | 149266 | 17.280 |
Price($) | Vol. | No. |
---|---|---|
17.350 | 28897 | 5 |
17.360 | 50 | 1 |
17.370 | 16348 | 3 |
17.380 | 1000 | 1 |
17.400 | 16248 | 1 |
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