In today’s briefing:
- China Stimulus: Big Loan Growth Numbers, Good for FMG?
China Stimulus: Big Loan Growth Numbers, Good for FMG?
- Fortescue Metals (FMG AU) has corrected due to the iron ore price dropping. China’s massive stimulus could provide an impetus to demand in 6-8 months and revive pricing.
- Substantial correction of steel margins is halted. Iron ore the inventory at the mills and ports has now stabilized. We believe this provides support to pricing at these levels.
- Fortescue Metals (FMG AU) yields at the spot have dropped to 12% FCF and 9% dividend yields, but we believe there is an upside to this.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Data and News
- ✓ Events & Webinars
