Yesterday saw iron ore fall to fresh 16-month lows as it looks for a new level of equilibrium but encouragingly FMG maintained its hold on the $14 area. We continue to believe that FMG represents good value at current levels and a minor recovery in iron ore could easily see the stock 20% higher i.e. a stock that doesn’t fall on bad news is strong, or in this case looking for a low. Also the stock pays its next dividend in February which might start to garner some attention from the income hungry over the coming weeks.
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Market Matters Weekly Video Update: James introduces a new Research Lead to the Market Matters Team
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Markets @ Midday – Friday 20th May – IGO Limited (IGO) & Woodside (WPL)
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Ausbiz: James Gerrish this morning talking his take on markets, with a focus on Bluescope (BSL), Qantas (QAN) & IGO
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Markets @ Midday – Wednesday 18th May – Eagers (APE), Boral (BLD) & Bluescope (BSL)
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MM is bullish FMG initially looking for 20% upside
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Ausbiz: James Gerrish this morning talking his take on markets, with a focus on Bluescope (BSL), Qantas (QAN) & IGO
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