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Taking profits on miners?

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Taking profits on miners?

Hi James, Thanks for the daily commentary. Is it time to take some profits on iron ore producers (BHP, RIO, FMG) or even reduce exposure to this sector or wait till after the upcoming dividend cycle? What is your view on Pharmaxis (PXS) and Poseidon (POS)? Thanks, Ram


Hi Ram,

We discussed iron ore stocks in yesterday’s report, we believe they remain overall bullish initially targeting another ~10% upside however we prefer BHP over RIO & FMG (the latter more heavily influenced by Iron Ore prices which we are more cautious on in the 2H.

  • Pharmaxis (PXS) 9.5c – This $43m pharmaceutical business has more than halved since late 2019, its not one for MM at present
  • Poseidon (POS) 13.5c – this gold and nickel explorer is in suspense at the time of writing for a $20m capital raise at 11c, just a week after it squeezed up from 10c, again not one for us.
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