|Bid||18.55 x 0|
|Ask||18.57 x 0|
|Day's Range||18.11 - 18.70|
|52 Week Range||13.90 - 26.58|
|Beta (5Y Monthly)||0.73|
|PE Ratio (TTM)||4.01|
|Earnings Date||Feb 16, 2022|
|Forward Dividend & Yield||1.72 (8.87%)|
|Ex-Dividend Date||Feb 28, 2022|
|1y Target Est||19.03|
Australia's big three miners were on track to lose more than A$16 billion ($11.12 billion) in combined market value on Monday at current levels, as a commodities selloff over easing China demand and fears of a global recession deepened. Rio Tinto's Australia-listed shares were set to shed nearly A$2 billion in value, BHP more than A$10 billion, and Fortescue Metals over A$4 billion. Lower output from Chinese steel mills has hit demand for iron ore, while prices of commodities like copper and aluminium have slumped on worries that aggressive interest rate hikes by the U.S. Federal Reserve's and other central banks could tip the global economy into a recession.
Andrew Forrest, the chairman and founder of Australian miner Fortescue Metals, said on Tuesday he does not believe his company should shy away from investing in countries with troubled human rights records. Forrest, who returned to helm the company last month, cited the example of the Democratic Republic of Congo, where some cobalt mines employ slave labor. Cobalt is an important component in lithium-ion batteries used in electric vehicles, smart phones and laptops.
Most readers would already be aware that Fortescue Metals Group's (ASX:FMG) stock increased significantly by 18% over...