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

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.

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.

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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%.

2. 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.

3. 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.     

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