RIO, BHP, FMG - How these ASX iron ore stocks performed today

Be the First to Comment Read

RIO, BHP, FMG - How these ASX iron ore stocks performed today

More on:
 RIO, BHP, FMG - How these ASX iron ore stocks performed today
Image source: © Helderpc | Megapixl.com

Highlights

  • In Friday’s session, iron ore futures were trading 0.5% up at US$130.75 per tonne, as of 5:30 PM AEST.
  • Most of the iron ore stocks closed higher on the ASX today.
  • The ASX 200 Materials index surged 1.55% to close the session at 16,677.5.

Iron ore prices have been shrinking recently after hitting sky-high levels amid the Ukraine-Russia war. On Thursday, iron ore futures for the current month on the Singapore Exchange fell 2.99% to US$130 per tonne.

ASX mining stocks

Image Source: © Sergioz | Megapixl.com

However, in Friday’s session, iron ore futures were trading with a small bullish tilt, gaining 0.5% to US$130.75 per tonne as of 5:30 PM AEST. In that vein, let us have a look at three ASX iron ore mining stocks and how they performed today.

Read More: Why are Galileo Mining (ASX:GAL) shares up over 140% today?

  1. BHP Group Limited (ASX:BHP)

One of the frontline ASX miners, BHP Group has a wide portfolio of mineral projects including metallurgical coal, potash, nickel, iron ore, etc. The group has a market capitalisation of AU$227.55 billion with a total of 5.06 billion issued shares. In FY21, the group reported a net profit of AU$11.3 billion over a revenue of AU$56.92 billion.

Today, BHP shares opened the session higher at AU$45.84 and ended the day even higher at AU$45.84 or 1.98% up, owing to a strong momentum in the Australian markets. The stock has delivered a return of 8.16% in 2022 so far, as of 13May 2022 and is quoting at a dividend yield of 10.66%.

  1. Rio Tinto Limited (ASX:RIO)

Another blue-chip ASX miner, Victoria-based Rio Tinto has a market capitalisation of AU$38.3 billion with 371.21 million issued shares. In FY21, the miner more than doubled its net profit to AU$21.09 billion, from a profit of AU$9.76 billion in FY20.

Yesterday, RIO shares tanked over 2.09%; however, today the stock pared most of the losses and ended the session 2.09% higher at AU$105.59. The year-to-date (YTD) return of the stock stands at 5.92%, as of 13 May 2022.

  1. Fortescue Metals Group (ASX:FMG)

The last stock on the list is Perth-based vertically integrated green energy and resources group, FMG. It has a a market capitalisation of AU$58.5 billion and 3.07 billion issued shares. In FY21, the miner clocked AU$10.29 billion in profit, significantly higher than FY20 profit of AU$4.73 billion. The revenue for the last year also surged around 90% (YoY) to AU$22.28 billion.

FMG shares continued their downtrend from the previous session at the open today. However, the stock made a stellar recovery and closed the day 2% higher at AU$19.39. The YTD return of FMG shares stands at a negative 2.32% and the annual dividend yield stands at 15.62%.

Bottom Line

Mining stocks have ended today’s session on a higher note, owing to a strong momentum in the Australian market, which helped the ASX 200 close 1.93% higher, while the ASX 200 Materials index surged 1.55%. However, commodity-based stocks have been facing increased pressure lately, owing to a mix of factors like inflation, geo-political tensions, the COVID-19 situation in China, etc. Therefore, investors must do a proper risk management before investing.     

Read More: How did Sayona Mining (ASX:SYA) shares perform in last one month?

Disclaimer

Speak your Mind

Featured Articles

Ad
kalkine logo

GET A FREE STOCK REPORT

Top Penny Picks under 20 Cents to Fit Your Pocket! Get Exclusive Report on Penny Stocks For FREE Now.

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. OK