Fortescue Metals (FMG)

21/01/2022 09:17

Fortescue Metals (FMG) $21.39

Iron ore producer FMG has now rallied over 50% from its panic low in November, MM has already taken most of the meat out of this sandwich to-date although we reiterate after talking profit we are not bearish FMG but simply adopting a more neutral view – a very attractive fully franked dividend is looming this time next month.

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13/01/2022 09:08

Fortescue Metals Group (FMG) v Goodman Group (GMG)

Yesterday MM switched our position in FMG across to GMG, we realised a more than 20% profit in less than 2-months and importantly have migrated our portfolio slightly towards a more defensive stance i.e. part of the 2022 plan. It’s important to note we have not turned bearish FMG but its achieved our profit target, we remain overweight resources...

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12/01/2022 11:11

Flagship Growth Portfolio – Amendments

MM are taking profits in Fortescue Metals (FMG) and using weakness to buy Goodman Group (GMG)

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12/01/2022 09:23

Flagship Growth Portfolio

Since our last update on the 22nd December the portfolio has increased +2.19% inclusive of weakness this week which saw the portfolio slip by 2.04%,  at least managing to outperform the market which slipped 2.7%, our cash remains at just 1% i.e. were still long and bullish. We suffered at the hands of our tech holdings this week which should come...

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11/01/2022 09:09

Fortescue Metals Group (FMG) $20.64

FMG has bounced over 50% from its panic October lows showing MM a healthy paper profit on our 2021 purchase, we find ourselves in a slight quandary at present:

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22/12/2021 09:21

Fortescue Metals Group (FMG) $19.79

We donned our contrarian hat in November and bought FMG initially targeting the $19 area but since Chinas move on Monday towards stimulating their economy we have revised our target area to the $20-21 zone  i.e. the easy money is behind us and MM is still considering taking profit in the weeks ahead.

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22/12/2021 09:20

Flagship Growth Portfolio

The MM Growth Portfolio gained 0.35% last week while the market slipped 0.3%, our cash remains at just 1% i.e. we’re still long and bullish. We enjoyed strong performances from Fortescue Metals (FMG) +7.2%, Whitehaven Coal (WHC) +5.8% & Northern Star (NST) +5.3% while Santos (STO) -6.16%, HUB24 (HUB) -3.7% and ResMed...

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08/12/2021 09:14

Fortescue Metals (FMG) $17.41

MM is holding FMG in our Growth Portfolio looking for a recovery after its 3-month 47% plunge in line with Chinas policy decisions which helped to hammer the iron ore price. However its important to notice that FMG bottomed well before the bulk commodity and in similar fashion its likely to end at least the 1st leg of its recovery before iron ore tops...

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30/11/2021 09:36

Fortescue (FMG) v Alumina (AWC)

The last few weeks has seen a significant move in both FMG and AWC with the former rallying over 30% while AWC has corrected over 23% - if we see this relative performance extend further MM will consider taking a short-term profit on FMG and allocating part of the holding into AWC, increasing our holding in the process.

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30/11/2021 09:31

Fortescue Metals (FMG) $17.60

While stocks have endured a tough few weeks, albeit it only a 5.1% pullback to-date, the embattled FMG has roared back to life rallying over 30% from its October lows, a classic case of the elastic band snapping back towards value – MM has gone long so let’s hope we’re correct believing there’s more fuel in the tank! Through 2021 we have witnessed a number...

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