Menu
Predictably the iron ore sell off has punished the valuations of our big three producers Since the iron ore price began tumbling in late July Rio Tinto and BHP shares have fallen by up to 30% The pure play Fortescue has been routed by up to 40% slashing more than $10 billion from the value of founder Andrew Forrest s 36% shareholding
Get Price
Fortescue Metals again hit a fresh high intraday at $ closing at $ but still up 87c or per cent for the day The resurgent iron ore price comes as a blue wave result in Georgia s Senate run off votes spurs expectations of major infrastructure spending in the US
Get Price
Aug 30 Reuters Fortescue Metals Group Ltd reported its highest ever annual profit and dividend on Monday after the Australian iron ore miner shipped a record amount of the steelmaking
Get Price
BHP fell per cent to close at $ and Fortescue Metals Group fell per cent to $ even as it reported record quarterly shipments and said its average realised price for a tonne of iron ore was up almost 50 per cent in fiscal 2024
Get Price
The Fortescue Metals Group Limited ASX FMG share price continues to crater down % to a 10 month low of $ on Tuesday Iron ore prices plunge to year to date lows Investors are offloading the BHP Group Ltd ASX BHP Rio Tinto Limited ASX RIO and Fortescue shares on Tuesday following another pullback in iron ore prices overnight
Get Price
Fortescue will pay a final dividend of $ per share up from $1 a share last year This brings its total dividend for the year $11 billion or to $ per share The final dividend will add about $ billion to the wealth of the company s chairman and biggest shareholder Andrew Forrest who is Australia s richest man
Get Price
26 October 2024 Mentioned Fortescue Metals Group Ltd FMG After two years in overvalued territory mining giant Fortescue Metals is now fairly valued according to Morningstar after a significant drop in the price of iron ore But analysts are pricing in more downside saying prices for the commodity could fall below US$50 by 2024
Get Price
The improvement in production and exports out of Brazil combined with the strong Australian dollar could weaken the profitability of Fortescue for FY21 However even if iron ore prices were to fall back to US$80 per tonne Fortescue would still be a highly profitable company with the ability to pay market leading dividends
Get Price
Despite the volatile demand for steel in China so far this year due to Covid lockdowns Fortescue s iron ore supplies reached a record 189 million tonnes in its 2024/2024 financial year
Get Price
These market forces hit Fortescue which sells a lot of ore with iron grades of about 58 per cent and therefore attracts a lower price But in recent months Chinese steel margins have contracted and the gap between the lower iron content ores and the industry benchmark has closed significantly boosting Fortescue s profitability
Get Price
The market is anticipated to experience certain trends like mining technology increasing demand for light vehicles for automotive steel and rising demand for low grade iron ore The
Get Price
Sign In Read Today s Paper My account Rewards Logout
Get Price
Iron Ore Plunge Weakens BHP and Fortescue S P Says as Atlas Cut Bloomberg Plunging iron ore prices will probably weaken BHP Billiton Ltd s credit metrics and hurt profits
Get Price
Australia s Port Hedland which handles about a fifth of the world s seaborne traded iron ore will reopen on Wednesday after being spared the brunt of a cyclone that has also shut other major
Get Price
All up Fortescue said it shipped million tonnes of iron ore over the 2024 financial year beating its guidance of 177 million tonnes Fortescue said it had US$ billion around A$ billion at the time on hand at the end of June with US$300 million roughly A$435 million at the end of June in total debt
Get Price
Iron ore now trades well ahead of the cost curve with about 80% of global supply from Rio Tinto BHP Vale and Fortescue which are all low cost miners The tail of the cost curve
Get Price
Iron ore producers are down slightly less than the broader market with BHP Billiton down 13% Rio Tinto down 17% and Fortescue Metals down 16% FREE REPORTFill in your email to receive our Top 3 Income Stocks for 2024 Now Companies News Contact Us Products Income Report Investing Report PATS Cryptocurrency Report HALO Global Trading Report
Get Price
BHP and pure play iron ore miner Fortescue Metals Group were also downgraded from buy to neutral with BHP s target price cut from $50 to $42 Its locally listed shares last traded at $ The analysts cut Fortescue s price target from $25 to $18 given its heightened exposure to the resource
Get Price
UPDATE 2 Cost cuts keep Fortescue in black despite iron ore plunge By 4 Min Read Fortescue aims to cut iron ore costs down to $39/t Says mounting industry supply glut a disaster
Get Price
For investors with venture capital like enthusiasm and mindset Fortescue may offer an attractive opportunity with the iron ore business acting like a buffer in generating positive
Get Price
Iron ore extended its rout as BHP Group warned it sees an increasing likelihood of stern cuts to China s steel output this year The prospect of much lower steel production in the second
Get Price
The iron ore industry directly employed 53 221 people in 2024 accounting for 48 per cent of mining industry jobs by commodity Figure 2 The top five employers by order of greatest number of full time equivalent positions were BHP Fortescue Metals Group FMG Hamersley Iron Rio Tinto and CITIC Pacific Mining Management
Get Price
It shipped million tonnes mt of iron ore in the quarter compared with mt a year earlier and above an RBC Capital Markets estimate of mt Fortescue also left its fiscal
Get Price
BHP s cost guidance for example is between $ and $ a tonne in the context of a long run iron ore price of about $US60 a tonne these are very strong margins Still
Get Price
A spike in short positions in the iron ore majors broker downgrades and panic selling tells the tale of the commodity s swift fall from grace It plunged another 18 per cent to $
Get Price
Bucking the trend mining stocks ended % lower dragged primarily by profit taking in heavyweights BHP Group Rio Tinto and Fortescue Metals Group from Reuters A stronger euro and sterling spurred profit taking in the dollar which reached a 16 month peak against a basket of currencies on Monday from CNBC
Get Price
Iron ore extended its rout as BHP Group warned it sees an increasing likelihood of stern cuts to China s steel output this year The prospect of much lower steel production in the second half is testing the bullish resolve of the futures markets BHP wrote in a commodities outlook report on its website
Get Price
Rio Fortescue cut iron ore output as China weakens By 5 Min Read Rio cuts iron ore output 10 percent as China weakens BHP sees no reason to make cuts analysts wonder when
Get Price
Standard Poor s said that plunging iron ore prices will probably weaken BHP Billiton Limited s credit metrics and hurt profits at Fortescue Metals Group Limited S P said that the lower iron ore prices would likely cause BHP Billiton s credit metrics to be weaker in the year ending June 30th 2024
Get Price
Iron ore producers are down slightly less than the broader market with BHP Billiton down 13% Rio Tinto down 17% and Fortescue Metals down 16% This is because investors and management teams alike foresaw an iron ore price correction and were thus prepared for it Projections for iron ore demand Credit Merlon
Get Price