Iron ore price, page-25490

Only a newbie to FMG. Sold down half our A2M holding in March while it was holding strong to rotate into assortment of diversified dividend plays and FMG was our biggest play in the mining space together with a little BHP. At the time it was ridiculously cheap and it was priced like it was a dividend trap which it has clearly shown it was not. Even at today price FMG is too cheap still if you compare it to the returns you are currently getting from BHP or RIO. FMG has not reached its true value yet and still has some way to go to be priced similarly to BHP and RIO considering what they return as a dividend.

I think the market is recognizing its value as look at the massive turnover on a +12% day, its sure as hell not retail buyers soaking up the buy side. Plenty of upside left to go and if the IO price stays around these levels I think I will be able to build our new forever home with 1 years worth of dividends if this keeps up.