Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team Dividends are looming in Feb/Mar for FMG, RIO and BHP. All stocks have had a great run up from Nov to Jan 2023. Would Market Matters be selling into this strength or wait for the dividend income from these stocks? What is your view on the iron ore prices? Will it support these stocks after the dividend payments? regards
Hi,
MM has already trimmed our exposure to the Resources Sector through recent sales/trimming of our positions in the likes of Sandfire Resources (SFR), BHP Group (BHP), OZ Minerals (OZL) and Independence Group (IGO). We are now looking to buy further sector weakness ideally in the likes of Mineral Resources (MIN), South32 (S32) and Whitehaven Coal (WHC) with the former having specific iron ore exposure.
We think Iron Ore will ultimately oscillate in a range broadly between ~US80 & US$120, meaning that current levels are at the top end of the range (or just above) making the risk/reward unappealing.
NB We do not pay too much attention to short term swings around dividends unless on the rare occasion it leads to potential mispricing.
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