A Quick Look At Fortescue Metals Group

  • Nov 29, 2018 AEDT
  • Team Kalkine
A Quick Look At Fortescue Metals Group

The prices of Iron ore have been witnessing an upward momentum as these prices recorded a rise on November 29, 2018. The market players are of the view that the increase in the prices of the iron ore has been erasing the losses which were witnessed earlier. The stock price of Fortescue Metals Group Limited (ASX: FMH) has ended the session on November 29, 2018 on the strong note. In today’s session, the stock price settled at A$4.030 per share which reflects that the stock witnessed the rise of A$0.090 per share or 2.284% intraday. Additionally, the company has also released the information related to the buyback of the shares on November 29, 2018 through the press release.

As on November 29, 2018, Fortescue Metals Group has managed to buy-back 12,462,819 shares and, for the purposes, the company has given A$48,576,117.2. On the same press release, the company has also mentioned that it is pursuing “On-Market” type of buyback. However, the company has plans to spend A$451,423,882.85 which represents that the company would be spending A$402,847,766 more for the purposes of the buy-back. However, the press release also says that, at any point of time, the termination or suspension of the ongoing buyback can take place by Fortescue Metals Group.

Not so long ago, Fortescue Metals Group also released the production report for the September 2018 quarter. As per the report, favourable momentum was witnessed in the realized price because of the product as well as marketing strategy execution. Also, during the same period, the robust momentum was also witnessed in the cash flows. On September 30, 2018, the company had cash on hand of US$972 million while its net debt amounted to US$3.0 billion. The management of the company reflected positive views for the September 2018 quarter and stated that the company has managed 40.2mt of shipments during the period.

The press release published by Fortescue Metals Group stated that in FY 2019 the company plans C1 costs in the range of US$12-13/wmt while it is planning total shipments in the range of 165-173mt. However, in FY 2019, the company is planning to incur the total capital expenditure or CAPEX amounting to US$1.2 billion. The capital expenditure which the company has incurred in the September 2018 quarter amounted to US$276 million.

Fortescue Metals Group is currently having a market capitalization amounting to $12.26 billion, and it also has an annual dividend yield of 5.84%. In addition, the stock price of the company is trading towards the lower range. Let us now have a look at the company’s performance. Over the past six months, the stock has managed to deliver -12.44% return.


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