Miners remain one of the few sure-fire bets for investors, with cash still pouring in from strong iron ore prices.
“We think the yield prospects are some of the strongest in the market,” said Plato Investment Management senior portfolio manager Peter Gardner.
“They’re basically taking iron ore out of the ground at $US10 to $US15 a tonne, so they’re getting great margins at these levels.
“Fortescue’s gross dividend yield is around 17 per cent, Rio’s is around 10 per cent and BHP just a bit lower. If prices stay at current levels, they look very cheap.”
Click here to read the full article in the Australian Financial Review.
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