Fortescue Metals Group Ltd (ASX:FMG) shares at AEST 12:33 PM is trading at A$17.410, a rise of 3.32% from the previous close with a market cap of A$51.88 billion. Looking at the present scenario, FMG might just be on way to surpass Wesfarmers (ASX:WES) in terms of market cap.
Fortescue Metals delivered outstanding Q4 FY2020 operating performance.
- Total Recordable Injury Frequency Rate reduced to 2.4 in the 12 months to 30 June 2020.
- 3 million tonnes of record iron ore shipment was made during this quarter and 178.2mt for FY2020.
- Iron ore shipments would range from 175mt to 180mt.
- C1 Cost would lie in between US$13.00 - US$13.50/wmt.
- Capital expenditure would range from US$3 billion to US$3.4 billion.