We exited our FMG position earlier in the year at marginally higher levels, on balance we can see higher prices and aggressive investors could consider going long with stops under $19 i.e. 8% risk. While the stocks been an excellent yield play over recent years the next dividend is not due until August, any forays into the stock are all about potential capital gain and hence the likely direction of iron ore.
MM is neutral to bullish FMG
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