AUS
NZ
UK
CA
USA
IND
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' ]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.
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.