Fortescue Metals (FMG) has corrected ~30% from recent highs, although they did pay a big $1.47 fully franked dividend (equivalent to $2.10 grossed for franking) so the actual decline is nearer ~20%. However, with Iron remaining resilient and the expectation that FMG will pay another $1.49 in September, MM is bullish the local Iron Ore miner, looking for a re-test of all time highs around $26, ~20% higher.
MM is now bullish FMG
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