FMG has become an awesome yield stock over recent years and this week’s half-year result did nothing to taint the trend, assisted obviously by a clear tailwind from the rally in iron ore prices. They declared a $1.45 dividend which was at the high end of expectations and their targeted payout ratio implying the boards very confident moving forward. The companies on track to yield over 10% fully franked especially while the bulk commodity remains firm. Similarly to MIN we can see a break to fresh 2021 highs but an opportunity to accumulate closer to $20 fells highly likely.
MM is bullish FMG very short-term and neutral medium-term
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