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Fortescue Ltd (FMG) $19.31

FMG is up ~6% year-to-date as iron ore continues to surprise the consensus bearish view. If we are correct and iron ore tests $U110 into Christmas, we can see FMG at least testing $21, or 8-10% higher.

  • We hold FMG in our Active Income Portfolio for yield, but it’s also on track to deliver some capital gains after a tough 1H.
FMG
MM is long and bullish FMG
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Fortescue Ltd (FMG)
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