Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
Hi James and Team What's your latest view on the Iron Ore names. I'm holding all 3 above - With all 3 paying dividends already this month I don't need to be holding for the yield. Do you see further upside short term? What price do you see these 3 stocks reaching in 2023? Are they sells or holds? regards Debbie
Hi Debbie,
MM holds a mixed exposure to the iron ore sector:
Flagship Growth Portfolio: 6% in BHP Group (BHP) and 4% in Mineral Resources (MIN).
Active Income Portfolio: 6% in BHP Group.
We remain bullish the Resources Sector medium term including the iron ore names and at this stage we have no plans to reduce any of our exposure which by definition is an endorsement of the sector. Pure “iron ore play” Fortescue Metals looks constructive following a strong week post the global banking worries and we can see a test of its mid 2021 highs this financial year which again is a positive read through for the sector.
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