FMG (-23%) has corrected deeper than most ASX miners in 2026 as iron ore dipped below US$100/MT, but we think it represents good value at current levels, especially for income, with the miner forecast to yield ~6% fully franked over the next 12-monmths – MM holds FMG in the Income Portfolio.
- We like the risk/reward towards FMG around $19, targeting a break of its 2025/6 highs, or ~25% higher.
MM is long and bullish towards FMG around $19
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