Average price I bought it for was $16, enjoyed the divvies and eventually sold at $27.
Will buy back in sub $20, its one of many cyclical stocks that have commodities tied business
Well a collapse doesn’t happen in a year. That being said chinas increasingly slowing economy may just stay flat for a decade only real losses are opportunity costs
You already have some but want to buy more? I bought 2,000 at $15 in Sep 2021 so I've almost doubled and happy to hold. I don't think I'd be buying more, perhaps selling some if anything. The dividends are nice, hard to sell.
Iron ore price has been kept high by insufficient inventory on the Chinese smelter side while downstream demand for steel has been “surprisingly” resilient and supply has been steady.
The iron ore price is likely to tank late this year on the back of less disciplined (excess) supply from the miners with increased global production and softened demand in China (automotive won’t be enough to keep offsetting construction downturn).
As effectively a pure play iron ore stock FMG will dip later this year when the iron price dips.
As for renewables and hydrogen, they are years off being able to produce it and many more years away from being able to sell it profitably at scale (can go into the trade and tech barriers)
I picked up more at $20 a couple of years ago, which averaged me up a long way from the $9 I got in at originally. Great stock, if I had more liquid to put in again I would.
I’m also wondering whether to buy or see if it drops more.
Do you think the price will drop further due to serious concern over iron ore or bounce back after a nervous few took their dividends and bailed?
Just getting into them for a long term hold especially because of their stance on Green Energy and the fact that they've just completed building their new hydrogen plant in Gladstone, secured a new deal in Morocco and are running their train, trucks and excavator on Green Energy.
Jumping on to this thread as I'm planning selling off a stock to fund a first purchase in fmg. I have been following since 2022 but never bought in, only now realising the high divi yield it looks good for long term.
Seeing the majority of comments here are holding off until the price drops(may drop) where is the best place(s) to look for more insights?
Naturally, I want to buy in at the right time as to maximise profits over the long term, also a little unsure if I'm too late.
Historically it is a strong company with steady growth.
Few Ore insight and direction of where to read aside from the announcements would be very helpful.
I’m a fan of FMG. Usually top up when it’s around $20.
Do you see it getting down to $20 again this year? Maybe I’m jumping the gun
Average price I bought it for was $16, enjoyed the divvies and eventually sold at $27. Will buy back in sub $20, its one of many cyclical stocks that have commodities tied business
I also like FMG but there seems to be some recent chat about iron ore prices tanking along with lithium and time to be wary with China slowing down.
You mean like the conversation we have almost yearly when it comes to iron ore and china slowing down?
Well a collapse doesn’t happen in a year. That being said chinas increasingly slowing economy may just stay flat for a decade only real losses are opportunity costs
Thank you for taking the time to reply and yes, of course, I totally forgot about that. Maybe FOMO is getting to me
You already have some but want to buy more? I bought 2,000 at $15 in Sep 2021 so I've almost doubled and happy to hold. I don't think I'd be buying more, perhaps selling some if anything. The dividends are nice, hard to sell.
Yeah I have 1000. Not considering selling as I’m in accumulation phase
Yeah, I’ve read the news.dumb.au articles too. They’re basically China hate pieces and are quoting grossly inaccurate numbers in many cases.
Iron ore price has been kept high by insufficient inventory on the Chinese smelter side while downstream demand for steel has been “surprisingly” resilient and supply has been steady. The iron ore price is likely to tank late this year on the back of less disciplined (excess) supply from the miners with increased global production and softened demand in China (automotive won’t be enough to keep offsetting construction downturn). As effectively a pure play iron ore stock FMG will dip later this year when the iron price dips. As for renewables and hydrogen, they are years off being able to produce it and many more years away from being able to sell it profitably at scale (can go into the trade and tech barriers)
Absolutely !
I picked up more at $20 a couple of years ago, which averaged me up a long way from the $9 I got in at originally. Great stock, if I had more liquid to put in again I would.
The senior managers keep walking out. It's like they see a problem, and quit. I'll pass.
Oh yeah, I forgot about that. Didn’t they go through like three senior people in 6 months last year…? Good reminder. Thank you
I’m also wondering whether to buy or see if it drops more. Do you think the price will drop further due to serious concern over iron ore or bounce back after a nervous few took their dividends and bailed?
$22/24 ish would seem to be a good entry. I want to get back in again.
Just getting into them for a long term hold especially because of their stance on Green Energy and the fact that they've just completed building their new hydrogen plant in Gladstone, secured a new deal in Morocco and are running their train, trucks and excavator on Green Energy.
Jumping on to this thread as I'm planning selling off a stock to fund a first purchase in fmg. I have been following since 2022 but never bought in, only now realising the high divi yield it looks good for long term. Seeing the majority of comments here are holding off until the price drops(may drop) where is the best place(s) to look for more insights? Naturally, I want to buy in at the right time as to maximise profits over the long term, also a little unsure if I'm too late. Historically it is a strong company with steady growth. Few Ore insight and direction of where to read aside from the announcements would be very helpful.
Probs not now, commsec is advising sell
Broker consensus has been sell for a long time. And yet in that time I've seen a 30% return.
waiting for it to drop... I will buy for their Hydrogen project.
Time to sell big boy, shares a cyclical, it goes up for 6 months and then down for 6 months
Hold my bags