Skip to Content

Australian Investment Blog

ASX:FMG 06/12/2022

What does MM think about Fortescue Metals Group (FMG)?

FMG has already bounced ~50% from its November low but it’s still only trading on a P/E for 2023 for 10.3x while it’s expected to yield almost 10% over the next 12 months – importantly its payout is forecast to fall over the coming years in line with a declining iron ore price.

  • We can see FMG trading above $23 into Christmas but we wouldn’t be chasing the strength.
FMG
MM is mildly bullish towards FMG short-term
Add To Hit List
chart
image description
Fortescue Metals Group (FMG) v Iron Ore ($US/MT)

Wondering what Market Matters are buying and selling today?

Market Matters breaks down the latest financial developments into simple, actionable opinion that our members can rely on. We give our community access to some of the most trusted financial professionals in Australia and crucially, we invest in our own portfolios – putting real money where our mouth is.

Led by James Gerrish, the Market Matters Investment Team has decades of market experience, and every day we’ll give you our take on the market. With in-depth market analytics, clear buy, hold and sell actions members can quickly see the stocks we like, the stocks we don’t and the history behind every one of our decisions.

See for yourself – take an obligation free 14 day trial of our service – here.

Back to top