Of course the profit is unsustainable the question is for how long. 4 years at these prices and your in the money. I agree though that a high dividend is a concern rather then FMG looking to acquire or expand production. However the good news is neither you, I or even FMG have much of an idea of where iron prices go. So whilst usually a high dividend is a concern in this case it might be FMG being sensible rather then getting carried away with a boom (remember when BHP wanted to buy RIO). Am still happy to hold FMG, the Brazilian variant isn't going away anytime soon which will slow down Vale as well as new sources China will plan such as PNG. I also don't think the China-US war will happen soon. Xi not ready for it and Biden won't initiaite.
Just need 3-4 years of the current prices and FMG a bargain at around $20. Its probable but definately I wouldn't bet my life savings on it. DYOR
Iron ore price, page-30187
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$20.35 |
Change
0.590(2.99%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $19.91 | $20.50 | $19.90 | $172.3M | 8.500M |
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| No. | Vol. | Price($) |
|---|---|---|
| 3 | 7799 | $20.33 |
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| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 1175 | 2 |
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