FMG, BHP and Rio Tinto share prices in focus
Besides strong iron ore prices, Dow Jones further noted:
‘Higher iron-ore prices will add to pressure on profits at steelmakers globally, but are a boon for miners including BHP Group and Rio Tinto.’
This fact looks well known to investors, with Australia’s big three miners – BHP Group(BHP), Rio Tinto (RIO) and Fortescue Metals Group (FMG) – all moving higher in recent days.
At the time of writing and over the last five sessions, RIO was up 11.47%, BHP up 10.61% and FMG, unsurprisingly as the pure-play miner of the three, was up 12.77%.
On Wednesday, Macquarie Wealth Management, which has long been bullish on Australia’s iron ore miners, wrote:
‘We remain positive on stocks with iron-ore exposure due to strong cash flow yields and medium-term earnings upgrade momentum. FMG and RIO preferred in large caps (BHP’s near-term earnings risk heightened by weak coking coal and energy prices).’
The investment bank has Outperform ratings on all of Australia’s big three iron ore miners.
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$16.12 |
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Mkt cap ! $49.63B |
Open | High | Low | Value | Volume |
$16.30 | $16.35 | $16.00 | $142.8M | 8.831M |
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No. | Vol. | Price($) |
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7 | 18592 | $16.10 |
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Price($) | Vol. | No. |
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$16.14 | 3138 | 1 |
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No. | Vol. | Price($) |
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3 | 1844 | 16.100 |
1 | 400 | 16.080 |
3 | 2062 | 16.070 |
2 | 9455 | 16.060 |
1 | 2000 | 16.050 |
Price($) | Vol. | No. |
---|---|---|
16.140 | 3138 | 1 |
16.200 | 1600 | 2 |
16.220 | 1010 | 1 |
16.270 | 491 | 1 |
16.280 | 9999 | 1 |
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