FMG.AX - Fortescue Metals Group Limited

ASX - ASX Delayed Price. Currency in AUD
9.05
-0.53 (-5.53%)
At close: 4:11PM AEDT
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Previous Close9.58
Open9.42
Bid9.20 x 0
Ask8.00 x 0
Day's Range9.02 - 9.42
52 Week Range3.77 - 9.61
Volume19,538,166
Avg. Volume16,425,382
Market Cap28.011B
Beta (3Y Monthly)1.13
PE Ratio (TTM)8.79
EPS (TTM)1.03
Earnings DateAug 26, 2019
Forward Dividend & Yield0.48 (5.01%)
Ex-Dividend Date2019-09-02
1y Target Est3.43
  • Investing.com

    Asian Stocks Rise on Sino-U.S. Trade Hopes

    Investing.com - Asian stocks rose in morning trade on Monday as China and the U.S. appeared close to agreeing on a “phase one” trade deal.

  • Miner Beating Tech Stocks With 2019 Surge Sees More Gains Ahead
    Bloomberg

    Miner Beating Tech Stocks With 2019 Surge Sees More Gains Ahead

    (Bloomberg) -- China’s old-school appetite for iron ore has catapulted Fortescue Metals Group Ltd. ahead of some of the hottest tech sector giants and a fast-food behemoth as one of this year’s best performing global stocks.Shares of Australia’s Fortescue have more than doubled in 2019, rebounding from two straight annual declines to outpace a 20% advance in the price of benchmark iron ore. It’s a rally that can continue in 2020, according to the exporter’s top executive.“There’s no doubt that strong investment in infrastructure and that continued path to urbanization is still occurring in China,” Chief Executive Officer Elizabeth Gaines said in a phone interview. “We can continue to generate very strong margins.”Fortescue is the the second-best performing stock on the S&P Global 1200 Index, outpacing internet giant Meituan Dianping and Chipotle Mexican Grill Inc. -- and is behind only Canada’s e-commerce platform Shopify Inc. It’s also the top performer this year among Australia’s 50 largest companies.Continued strong demand in China, the top buyer, and work to add new mines that’ll deliver higher-quality products, means the company is positioned to extend its advance, Gaines said.Fortescue, which currently ships cheaper iron ore than key competitors, has been well placed to benefit from this year’s roller-coaster prices. The producer captured gains as iron ore jumped to a five-year high in July after a January dam disaster in Brazil triggered a supply squeeze. It also prospered as steel mills in China responded to rising input costs by seeking out less expensive raw materials.Investments in new mine projects in Australia worth almost $4 billion will see the producer add more premium iron ore, meaning Fortescue will be prepared for an eventual shift back to quality raw materials once profitability improves in China’s steel sector, according to Scott Schier, an analyst at Clarksons Platou Securities Inc.“With mill margins under pressure, mills have focused on raw material input costs and Fortescue has been the biggest beneficiary of this trend,” he said. The new mines mean the company is also “positioning itself for a more diversified and higher-grade product mix at a time when we believe the spread will begin to widen again,” Schier said.Fortescue’s new Eliwana mine is on track to begin exports from December 2020, and the Iron Bridge venture with China Baowu Steel Group Corp. and Taiwan’s Formosa Plastics Corp. is expected to begin production from the first half of 2022, the company said Thursday.Analysts are more cautious and currently have more sell recommendations than buy calls on Fortescue, according to data compiled by Bloomberg. The miner’s advance isn’t likely to continue as prices decline on rising supply, according to Morgans Financial Ltd. analyst Adrian Prendergast. “This isn’t something we view as sustainable,” he said.Even with lower steel production in China next year, Fortescue will benefit as it adds more premium products, lifts export volumes and makes further cuts to production costs, Gaines said in the Thursday interview.“These are sustainable improvements,” Gaines said. “Whether that’s on cost performance, our shipments, or our product strategy: we are delivering every quarter.”To contact the reporter on this story: David Stringer in Melbourne at dstringer3@bloomberg.netTo contact the editors responsible for this story: Alexander Kwiatkowski at akwiatkowsk2@bloomberg.net, Keith Gosman, Jake Lloyd-SmithFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • How Many Fortescue Metals Group Limited (ASX:FMG) Shares Did Insiders Buy, In The Last Year?
    Simply Wall St.

    How Many Fortescue Metals Group Limited (ASX:FMG) Shares Did Insiders Buy, In The Last Year?

    It is not uncommon to see companies perform well in the years after insiders buy shares. On the other hand, we'd be...

  • Fortescue Metals Group (ASX:FMG) Has A Rock Solid Balance Sheet
    Simply Wall St.

    Fortescue Metals Group (ASX:FMG) Has A Rock Solid Balance Sheet

    The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

  • Is Now The Time To Put Fortescue Metals Group (ASX:FMG) On Your Watchlist?
    Simply Wall St.

    Is Now The Time To Put Fortescue Metals Group (ASX:FMG) On Your Watchlist?

    It's only natural that many investors, especially those who are new to the game, prefer to buy shares in 'sexy' stocks...

  • Reuters

    Talks on Guinea's iron ore advance, BHP nears deal on Nimba-sources

    CONAKRY/LONDON, Aug 29 (Reuters) - Leading miner BHP is near a deal to divest its stake in Guinea's Nimba iron ore deposit, while three big miners are vying to develop half of the country's Simandou, the largest known untapped iron ore reserve, sources close to the talks said. Guinea has struggled for decades to extract money from its iron ore, which has been left undeveloped because of protracted legal disputes and the cost of infrastructure.

  • Should Income Investors Look At Fortescue Metals Group Limited (ASX:FMG) Before Its Ex-Dividend?
    Simply Wall St.

    Should Income Investors Look At Fortescue Metals Group Limited (ASX:FMG) Before Its Ex-Dividend?

    Regular readers will know that we love our dividends at Simply Wall St, which is why it's exciting to see Fortescue...

  • If You Had Bought Fortescue Metals Group (ASX:FMG) Stock A Year Ago, You Could Pocket A 90% Gain Today
    Simply Wall St.

    If You Had Bought Fortescue Metals Group (ASX:FMG) Stock A Year Ago, You Could Pocket A 90% Gain Today

    While Fortescue Metals Group Limited (ASX:FMG) shareholders are probably generally happy, the stock hasn't had...

  • Are Fortescue Metals Group Limited’s Returns On Capital Worth Investigating?
    Simply Wall St.

    Are Fortescue Metals Group Limited’s Returns On Capital Worth Investigating?

    Today we'll look at Fortescue Metals Group Limited (ASX:FMG) and reflect on its potential as an investment...

  • GuruFocus.com

    This Hedge Fund Is Up 74% and 35% Per Annum Since Inception

    The Atlantic Absolute Return Fund has smashed the returns of hedge fund peers

  • What Kind Of Shareholder Appears On The Fortescue Metals Group Limited's (ASX:FMG) Shareholder Register?
    Simply Wall St.

    What Kind Of Shareholder Appears On The Fortescue Metals Group Limited's (ASX:FMG) Shareholder Register?

    The big shareholder groups in Fortescue Metals Group Limited (ASX:FMG) have power over the company. Institutions will...

  • Estimating The Intrinsic Value Of Fortescue Metals Group Limited (ASX:FMG)
    Simply Wall St.

    Estimating The Intrinsic Value Of Fortescue Metals Group Limited (ASX:FMG)

    In this article we are going to estimate the intrinsic value of Fortescue Metals Group Limited (ASX:FMG) by taking the...

  • Is Fortescue Metals Group Limited's (ASX:FMG) ROE Of 8.4% Concerning?
    Simply Wall St.

    Is Fortescue Metals Group Limited's (ASX:FMG) ROE Of 8.4% Concerning?

    Want to participate in a short research study? Help shape the future of investing tools and you could win a $250 gift card! Many investors are still learning about the various metrics that can be useful when analysing a stock...

  • Moody's

    FMG Resources (August 2006) Pty Ltd -- Moody's announces completion of a periodic review of ratings of Fortescue Metals Group Ltd

    Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Fortescue Metals Group Ltd and other ratings that are associated with the same analytical unit. "IMPORTANT NOTICE: MOODY'S RATINGS AND PUBLICATIONS ARE NOT INTENDED FOR USE BY RETAIL INVESTORS. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.

  • CNBC

    Fortescue's CEO is seeing 'strong growth' in China's steel production

    Amid concerns over the state of the Chinese economy, Australian mining company Fortescue is seeing robust steel production coming from the country, according to its CEO. China is the world's largest steel making country. Data from the World Steel Association show the country increased its share of global crude steel production from 50.3% in 2017 to 51.3% in 2018.

  • Need To Know: Fortescue Metals Group Limited (ASX:FMG) Insiders Have Been Buying Shares
    Simply Wall St.

    Need To Know: Fortescue Metals Group Limited (ASX:FMG) Insiders Have Been Buying Shares

    It is not uncommon to see companies perform well in the years after insiders buy shares. Unfortunately, there are also plenty of examples of share prices declining precipitously after insiders have sold shares. So we'll take a look at...

  • Reuters

    Fortescue, Taiwanese partner approve $2.6 billion stage 2 of Iron Bridge Magnetite Project

    (Reuters) - Fortescue Metals Group Ltd said on Tuesday said its unit FMG Magnetite Pty Ltd and Taiwanese joint venture partner Formosa Steel IB Pty Ltd approved the development of stage 2 of the Iron Bridge ...