Fortescue Metals Group Limited slipped on Quarterly Production Report for June 2018 Quarter

who we are

June 2018 Quarterly Production Report: Fortescue Metals Group Limited’s (ASX: FMG) stock fell 3.7% on July 26, 2018 despite the company releasing a decent June 2018 quarterly production results, according to which there was record iron ore shipment of 46.5 million tonnes (mt) and cash production costs (C1) of US$12.17 per wet metric tonne (wmt) in the June quarter. As a result, FMG in FY 18 has shipped 170mt with an estimated full year C1 cost of US$12.36/wmt, which is equivalent to US$11.83/wmt after normalising for an original assumed exchange rate of US$0.75 and an oil price of US$53 per barrel (WTI). Moreover, during the June quarter, FMG has formally approved the development of the US$1.275 billion Eliwana project which will underpin the introduction of a 60 per cent iron grade product. The first ore from Eliwana is planned to be delivered in December 2020. The company has cash on hand at 30 June 2018 of US$863 million after the repayment of the balance of the 9.75% Senior Secured Notes (US$160 million) and payment of the interim FY18 dividend (US$264 million) during the June quarter. Now, the net debt is of US$3.1 billion. For FY 19, FMG is targeting total shipments to be between 165-173mt, C1 costs between US$12-13/wmt and total capital expenditure of US$1.2 billion. Meanwhile FMG stock has risen 1.56% in three months as on July 25, 2018 and is trading at a P/E of 7.44x.

[pluginops_form template_id=’23834′ ]

 

Dividend Stocks To Buy

The Income available from dividends remains attractive for many investors.

We take a look at the best yields on the market and assess what they say about a company’s prospect.

Sponsored ad by Kalkine

One Thing is certain, though, Australia interest rates are still low, making income difficult to come by and keeping the focus for many investors on high yielding stocks. Kalkine’s team of analysts bought you handpicked report for “Top 25 Dividend Stocks For 2018.”

ASX-relevant Special Reports are published year-round to provide a detailed analysis into an investing opportunity or a potential risk to your portfolio.

Click here to get your free report.


Disclaimer

The advice given by Kalkine Pty Ltd and provided on this website is general information only and it does not take into account your investment objectives, financial situation or needs. You should therefore consider whether the advice is appropriate to your investment objectives, financial situation and needs before acting upon it. You should seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice) as necessary before acting on any advice. Not all investments are appropriate for all people. Kalkinemedia.com and associated websites are published by Kalkine Pty Ltd ABN 34 154 808 312 (Australian Financial Services License Number 425376). website), employees and/or associates of Kalkine Pty Ltd do not hold positions in any of the stocks covered on the website. These stocks can change any time and readers of the reports should not consider these stocks as advice or recommendations.

Facebook Comments

Join Our Discussion

Start discussion with value Investors for ASX Stock Market Investment and Opinion.


6 Cannabis Stocks under Investor’s Limelight…

Cannabis companies that sell both medicinal weed and recreational pot. Marijuana stocks to look at. Marijuana mergers and acquisitions. Dispensary data analytics. Upcoming marijuana IPO’s Those phrases have become increasingly common as marijuana legalization spreads.

Global spending on legal cannabis is expected to grow 230% to $32 billion in 2020 as compared to $9.5 in 2017, according to Arcview Market Research and BDS Analytics. As of June 29, 2018 the United States Marijuana Index, despite a lot of uncertainty around regulations, has over the past 1 year gained 71.49%, as compared to about 12% gain seen by the S&P 500.

Click here for your FREE Report

LEAVE A REPLY

Please enter your comment!
Please enter your name here