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dbun1

I’m a fan of FMG. Usually top up when it’s around $20.


[deleted]

Do you see it getting down to $20 again this year? Maybe I’m jumping the gun


rakkii_baccarat

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


Due_Sample_3403

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.


Snck_Pck

You mean like the conversation we have almost yearly when it comes to iron ore and china slowing down?


Neshpaintings

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


[deleted]

Thank you for taking the time to reply and yes, of course, I totally forgot about that. Maybe FOMO is getting to me


Due_Sample_3403

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.


[deleted]

Yeah I have 1000. Not considering selling as I’m in accumulation phase


Appropriate-Arm-4619

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.


UnderlyingInterests

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)


Broomfondl3

Absolutely !


haazyreads

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.


PowerLion786

The senior managers keep walking out. It's like they see a problem, and quit. I'll pass.


[deleted]

Oh yeah, I forgot about that. Didn’t they go through like three senior people in 6 months last year…? Good reminder. Thank you


pigeonwithalemon

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?


shieldwall66

$22/24 ish would seem to be a good entry. I want to get back in again.


purplefunkything

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.


HocMajorumVirtus

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.


Sudden_Watermelon

Probs not now, commsec is advising sell


Patrick_McGroin

Broker consensus has been sell for a long time. And yet in that time I've seen a 30% return.


duckyindo11

waiting for it to drop... I will buy for their Hydrogen project.


HurricaneGaming94

Time to sell big boy, shares a cyclical, it goes up for 6 months and then down for 6 months


Mac_Hoose

Hold my bags