Fmg is already priced as if dividend is $1 instead of $3.50-4 ... eventual drop in iron ore is already priced in like crazy... they will be wrong on timing and FMG will print crazy dividends.
Buy share for $20
Get ~$2 maybe at full year
Cost by year end $18
Get $1 dividend first half fy22
Cost by then $17
etc
Cost base will very quickly be so low it will be priced as if dividend is half what it is the whole way.
Seems like a no brainer to me and I can't understand what other market participants are smoking. which is what usually happens before i make lots of money.
Iron ore price, page-29380
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Last
$17.14 |
Change
-0.200(1.15%) |
Mkt cap ! $53.11B | |||
| Open | High | Low | Value | Volume |
| $17.25 | $17.30 | $17.10 | $46.74M | 2.716M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 13 | 2530 | $17.14 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $17.15 | 3918 | 14 |
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| Last trade - 13.26pm 19/08/2024 (20 minute delay) ? |
| FMG (ASX) Chart |