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    InícioNotíciasFortescue shares sink on falling iron ore price

    Fortescue shares sink on falling iron ore price

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    The Fortescue Metals Group Limited (ASX: FMG) share price tumbled 5.5% to $9.03 today, but is still up around 115% plus substantial fully franked dividends over the past year.

    The stock is down after the iron ore price dropped to around US$80 a tonne on Friday according to data provider Market Index. The red metal’s price movements are nearly always related to swinging levels of Chinese demand with Fortescue and other miners like BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO) reliant on continually strong construction activity in China.

    For the financial year ending June 30 2019 Fortescue posted a record net profit of US$3.2 billion, which was nearly triple the prior year’s amount. Total dividends climbed an even more impressive 396%.

    The miner was largely built on debt by its risk-taking founder Andrew Forrest, which meant more conservative investors avoided it given the risks. However, net debt now stands at just US$0.5 billion with the deleveraged balance sheet another reason investors are piling in.

    When Edward Vesely — our resident dividend expert — has a stock tip, it can pay to listen. With huge winners like Dicker Data (up 147%) and Collins Food (up 105%) under his belt, Edward is building an enviable following amongst investors that are planning for retirement.

    In a brand new report, Edward has just revealed what he believes are the 3 best dividend stocks for income-hungry investors to buy now. All 3 stocks are paying growing fully franked dividends giving you the opportunity to combine capital appreciation with attractive dividend yields.

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    Fonte: The Motley Fool

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