FMG rallied +4% from its opening print yesterday morning after trading ex-dividend $1 fully franked, an impressive performance for a stock that’s struggled over recent weeks due to ructions within senior management with 3 high ranking individuals including its CEO and CFO leaving in the past week and no reasons given – it feels all a touch too hard at the moment.
- We already have iron ore exposure in our Flagship Growth (BHP/MIN) and Active income Portfolios (BHP) with FMG not tempting us even after its recent underperformance and uncertainty in management.
MM is currently neutral toward FMG
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