Last A$2.98 AUD
Change Today +0.29 / 10.78%
Volume 56.1M
As of 12:10 AM 11/24/14 All times are local (Market data is delayed by at least 15 minutes).

fortescue metals group ltd (FMG) Snapshot

Open
A$3.00
Previous Close
A$2.69
Day High
A$3.03
Day Low
A$2.91
52 Week High
02/24/14 - A$6.23
52 Week Low
11/20/14 - A$2.57
Market Cap
9.3B
Average Volume 10 Days
46.0M
EPS TTM
A$0.88
Shares Outstanding
3.1B
EX-Date
09/1/14
P/E TM
2.9x
Dividend
A$0.29
Dividend Yield
9.59%
Current Stock Chart for FORTESCUE METALS GROUP LTD (FMG)

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fortescue metals group ltd (FMG) Details

Fortescue Metals Group Limited produces and sells iron ore in Australia. The company holds various tenements covering the Chichester and Solomon hubs located throughout the Pilbara region of Western Australia. It supplies iron ore to customers in China and South East Asia. The company was founded in 2003 and is headquartered in East Perth, Australia.

4,608 Employees
Last Reported Date: 08/20/14
Founded in 2003

fortescue metals group ltd (FMG) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: A$1.8M
Chief Financial Officer
Total Annual Compensation: A$1.0M
Director of Operations
Total Annual Compensation: A$309.2K
Executive Director of Developments and Execut...
Total Annual Compensation: A$1.0M
Compensation as of Fiscal Year 2014.

fortescue metals group ltd (FMG) Key Developments

Fortescue Metals Group Limited Announces Board Changes

The board of Fortescue Metals Group Ltd. announced that retiring Directors Mr. Herb Elliott, Mr. Graeme Rowley and Mr. Herbert (Bud) Scruggs for their service. Mr. Elliott, Mr. Rowley and Mr. Scruggs will retire at today's 2014 Annual General Meeting and their immeasurable contributions to Fortescue's success will always be remembered. The company announced that the board has appointed Mr. Owen Hegarty as Vice Chairman. Mr. Hegarty joined the company as a Non-Executive Director in October 2008 and is a member of the Remuneration and Nomination Committee. Mr. Mark Barnaba has been appointed as Lead Independent Director. Mr. Barnaba joined Fortescue as a Non-Executive Director in February 2010 and is Chairman of the Audit and Risk Management Committee and a member of the Remuneration and Nomination Committee. He is Chairman for Macquarie Group Ltd. in Western Australia, and is also Chairman of the UWA Business School Board and Western Australia's State Theatre Company. He has previously been the Chairman of Western Power, the West Coast Eagles Football Club and Alinta Infrastructure Holdings.

Fortescue Metals Group Limited Announces Production and Net Debt Results for the Quarter Ended September 30, 2014; Provides Production and Capital Expenditure Guidance for the fiscal Year 2015

Fortescue Metals Group Limited announced production and net debt results for the first quarter ended September 30, 2014. For the quarter, the company reported ore mined was 42.9 million tonnes compared to 34.9 million tonnes a year ago. Ore processed was 38.9 million tonnes compared to 23.9 million tonnes a year ago. Total ore shipped including third party product was 41.5 million tonnes compared to 25.9 million tonnes a year ago. Cash on hand increased to USD 2.6 billion at 30 September 2014 reflecting the continued strength of operational cash flows, reduced capital expenditure and lower finance costs. Net debt at September 30, 2014 was USD 6.9 billion, with an additional voluntary repayment of USD 0.5 billion scheduled for payment on 17th October 2014. The company maintains its fiscal year 2015 production and shipping guidance of between 155mt to 160mt at a C1 operating cost of USD 31-32/wmt based on a US to Australian dollar exchange rate of 0.90. Capital expenditure guidance of USD 1.3 billion for fiscal year 2015, excluding any project spend associated with the Iron Bridge Joint Venture, which is fully funded by the Formosa Group.

Fortescue Metals Group Ltd Issues a $0.5 Billion Voluntary Redemption Notice to the Trustee of the $0.9 Billion Senior Unsecured Notes Due 2018

Fortescue Metals Group Ltd. has issued a $0.5 billion voluntary redemption notice to the trustee of the $0.9 billion senior unsecured notes due 2018. The $0.5 billion of notes will be redeemed on October 17, 2014. This announcement comes less than six months after Fortescue fully repaid both the 2015 and 2016 notes on March 14, 2014, and takes total debt repayments since November 2013 to $3.6 billion. The company also intends to repay an additional $0.5 billion to $1 billion during fiscal year 2015, subject to iron ore prices and other market factors.

 

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Industry Analysis

FMG

Industry Average

Valuation FMG Industry Range
Price/Earnings 2.7x
Price/Sales 0.6x
Price/Book 1.0x
Price/Cash Flow 2.6x
TEV/Sales NM Not Meaningful
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