Shares (or Equities)
Fortescue Shows Steel - BUY
Fortescue Metals Group Ltd (ASX: FMG)
- One of the world's leading producers of iron ore.
- Major player in the Pilbara region which is widely regarded as the world's best area for iron ore.
- Fortescue consistently adds over a billion tonnes per annum to its resource portfolio.
Why purchase now?
- FMG appears cheap on fundamentals.
- Demand for product remains strong, FMG is selling every tonne of iron ore it is able to produce.
- Average iron ore selling price remains firm despite the European debt crises headwinds.
Good Entry Price?
Current prices are a good entry level as they are near the bottom of their 52 week range $4.06- $7.27
Status- BUY
Last traded AUD $4.69
Price target AUD $9.00
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