Here’s how much FMG has gained in one month on ASX

December 08, 2022 02:13 PM AEDT | By Khushboo Joshi

Image source: © Viewimage | Megapixl.com

Share price performance of Fortescue Metals on the ASX

Fortescue shares have gained 5.09% in the last five trading days on the ASX. In the last one month, the shares have surged 25.38% on the ASX. However, in the last six months, FMG has shed 3.61% on the ASX. During the previous year, the iron ore explorer has moved up 15.96% and on a year-to-date basis, the company has gained 5.04% on the ASX. Taking the broader picture into account, in the last five years, Fortescue shares have moved up 357.24% on the ASX.

Why has Fortescue been in news lately?

Fortescue shares closed strong on 7 December 2022. As per reports, former CEO of Fortescue and now a non-executive chairman, Andrew Forrest has acquired energy powerhouse CWP Renewables via his company Squadron Energy. According to media reports, he has brought the company for AU$4 billion.
CWP Renewables owns 1.1GW of wind farms and a development pipeline of 1.3GW of wind and solar farms. Squadron Energy is Forrest’s private firm.
Besides, almost a week ago, Fortescue announced that it has appointed Fiona Hick as its new Chief Executive Officer. Hick was serving as the Executive Vice President Australian Operations in Woodside Energy.
On 23 November 2022, FMG informed via an ASX release that Dr Guy Debelle will moved from the role of Fortescue Future Industries Chief Financial Officer to the Board of FFI Australia. FMG also informed that Felicity Gooding has been appointed Acting CFO of FFI.
In its Annual General Meeting (AGM) held on 22 November 2022, FMG highlighted that in FY22, it has been struck 189mt of record annual shipments on an average revenue of US$100/dmt. The underlying EBITDA stood at US$10.6 billion and the earnings per share was US$2.01.

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