FMG.AX - Fortescue Metals Group Limited

ASX - ASX Delayed price. Currency in AUD
8.70
+0.05 (+0.58%)
At close: 4:10PM AEST
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Previous close8.65
Open8.66
Bid9.57 x 0
Ask8.70 x 0
Day's range8.61 - 8.80
52-week range3.52 - 9.55
Volume12,708,620
Avg. volume14,639,078
Market cap26.787B
Beta (3Y monthly)1.17
PE ratio (TTM)32.22
EPS (TTM)0.27
Earnings date20 Feb. 2018 - 26 Feb. 2018
Forward dividend & yield0.31 (3.52%)
Ex-dividend date2019-05-22
1y target est3.43
  • Australia Sees Jobs Boom in West as Resources Comeback on Cards
    Bloombergyesterday

    Australia Sees Jobs Boom in West as Resources Comeback on Cards

    (Bloomberg) -- Employment jumped and the labor force swelled in Australia’s western mining heartland, offsetting job losses in every other state, suggesting forecasts of a resource investment revival might be coming to pass.In Western Australia, 13,800 jobs were added in June, the participation rose 0.3 percentage point and unemployment fell almost half a percentage point to 5.8%, data from the statistics bureau showed in Sydney Thursday. In contrast, New South Wales, the economy’s growth driver in recent years and Australia’s biggest state, shed 17,400 positions.“The pickup in full-time hiring in Western Australia may be a sign that the trough in resource investment may soon come to an end,” said Tamara Mast Henderson, an economist at Bloomberg Economics. “There was less slack in Australia’s labor market in June, as indicated by a drop in underutilization. This adds to reasons the Reserve Bank of Australia is likely to leave its policy rate unchanged in August. We don’t expect any more easing this year.”The RBA executed its first back-to-back interest-rate cuts in seven years as it redoubled efforts to drive unemployment down to 4.5%, the bank’s new estimate of the rate needed to reignite inflation. It’s betting that a combination of policy easing, government tax cuts, infrastructure investment, and firms upgrading and building new mines will reignite an economy that slowed sharply in recent quarters.Rising SalariesBHP Group and Rio Tinto Group, the world’s two largest miners, are among those with vast new operations under construction in Western Australia’s Pilbara region as they prepare to replace aging mines scheduled to shutter. Rising salaries in the state’s mining sector already reflect a tighter labor market, with some roles commanding higher wages than at the peak of the last mining investment boom, according to advisory firm BDO International Ltd.Perth-based Fortescue Metals Group Ltd. has pledged project spending of about A$5.5 billion ($3.9 billion) on two new iron ore mines in Australia in the past 18 months, while BHP is developing the $3 billion South Flank project and Rio has sanctioned the $2.6 billion Koodaideri mine.The Australian dollar climbed after the release and traded at 70.26 U.S. cents at 12:50 p.m. in Sydney. Money markets are pricing in about a 60% chance the central bank will cut rates by another quarter point in December. The cash rate is currently at a record-low 1%.Thursday’s report also showed positive data on slack in the labor market: under-employment declined 0.4 percentage point to 8.2% and underutilization fell 0.3 point to 13.4%.RBA Governor Philip Lowe’s lowering of estimated full employment in the economy follows in the footsteps of other developed-world counterparts, who’ve had to wait for their jobless rates to fall to exceptionally low levels to spur wage growth. Even then, it has proved a prolonged wait for it to feed into inflation.Pushing down the jobless rate is likely to prove an uphill battle -- not least because so many additional people are entering the labor market. Meanwhile, debt-laden households have hunkered down and cut spending as they grapple with stagnant incomes and weakening house prices erode their wealth.The labor market has held up surprisingly well even as the economy slowed sharply in the past 12 months. One explanation for the resilience is that much of the hiring is coming from government-related programs that are impervious to prevailing economic conditions.\--With assistance from David Stringer and Tomoko Sato.To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.netTo contact the editors responsible for this story: Nasreen Seria at nseria@bloomberg.net;Malcolm Scott at mscott23@bloomberg.netFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.

  • Why Fortescue, Galaxy, Objective Corp, & Praemium shares climbed higher today
    Motley Fool3 days ago

    Why Fortescue, Galaxy, Objective Corp, & Praemium shares climbed higher today

    The Galaxy Resources Limited (ASX:GXY) share price and the Praemium Ltd (ASX:PPS) share price are two of four racing notably higher on Tuesday...

  • Commodity producers fire up even as China’s growth slumps to 27-year low
    Motley Fool4 days ago

    Commodity producers fire up even as China’s growth slumps to 27-year low

    Don’t get too disheartened about China's slowing GDP as industrial output for several commodities, including steel, have hit a record.

  • How to invest in ASX resource stocks
    Motley Fool6 days ago

    How to invest in ASX resource stocks

    How to invest in ASX resource stocks like Rio Tinto Ltd (ASX: RIO)

  • The ASX stock expected to deliver a special dividend next month
    Motley Fool7 days ago

    The ASX stock expected to deliver a special dividend next month

    There's good news for ASX investors on the hunt for bumper dividend payouts during next month’s profit reporting season!

  • Citi picks the next big mining M&A play on the ASX
    Motley Fool9 days ago

    Citi picks the next big mining M&A play on the ASX

    Our large miners on the S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index have been exercising good restrain when it comes to mergers and acquisitions but the case is building for one to make a pounce.

  • 3 quality ASX shares I would buy for passive income
    Motley Fool9 days ago

    3 quality ASX shares I would buy for passive income

    InvoCare Ltd (ASX: IVC) is one of the three shares I would buy for passive income.

  • ABN Newswire10 days ago

    Cobre Updates On the High Grade Perrinvale VMS Copper Project in Western Australia

    Sydney, Australia, July 10, 2019 - (ABN Newswire) - Privately-owned Australian copper exploration company, Cobre Pty Ltd, has successfully acquired 80% of Toucan Gold Pty Ltd (Toucan) which holds 100% ...

  • Iron ore crackdown: Why the ASX miners are set to take a hit this morning
    Motley Fool11 days ago

    Iron ore crackdown: Why the ASX miners are set to take a hit this morning

    ASX miners like BHP Group Ltd (ASX: BHP) look set to open lower this morning.

  • 5 things to watch on the ASX 200 on Monday
    Motley Fool12 days ago

    5 things to watch on the ASX 200 on Monday

    BHP Group Ltd (ASX:BHP), Fortescue Metals Group Limited (ASX:FMG), and Newcrest Mining Limited (ASX:NCM) shares will be on watch on Monday on the ASX 200...

  • ALL ORDINARIES finishes higher Friday: 8 shares you missed
    Motley Fool14 days ago

    ALL ORDINARIES finishes higher Friday: 8 shares you missed

    The S&P/ASX 200 (Index:^AXJO)(ASX:XJO) and ALL ORDINARIES (Index:^AXAO) (ASX:XAO) finished higher on Friday.

  • Is the Fortescue share price crash an ominous sign for the mining sector?
    Motley Fool14 days ago

    Is the Fortescue share price crash an ominous sign for the mining sector?

    The S&P/ASX 200 (Index:^AXJO) (ASX:XJO) index may be hitting new 11.5-year highs but that’s no thanks to ASX iron ore miners.

  • The Saracen Minerals share price is up 680% in 5 years: Is it a buy?
    Motley Fool15 days ago

    The Saracen Minerals share price is up 680% in 5 years: Is it a buy?

    Up 680% in 5 years, but is the Saracen Mineral Holdings Ltd (ASX: SAR) share price a buy?

  • These ASX stocks tipped to deliver dividend bonanza next month
    Motley Fool15 days ago

    These ASX stocks tipped to deliver dividend bonanza next month

    Australia’s burgeoning trade surplus is highlighting where ASX investors might find the pot of dividend gold at the next reporting season.

  • Are Rio Tinto shares a buy?
    Motley Fool16 days ago

    Are Rio Tinto shares a buy?

    The Rio Tinto Limited (ASX: RIO) share price has risen nearly 40% YTD. Is it a buy?

  • BHP, Rio and Fortescue reach new highs as iron continues to climb
    Motley Fool17 days ago

    BHP, Rio and Fortescue reach new highs as iron continues to climb

    BHP Group Ltd (ASX: BHP) and Fortescue Metals Group (ASX:FMG) both reached new 52-week highs yesterday on the ASX.

  • Why Fortescue and these ASX shares just raced to 52-week highs
    Motley Fool18 days ago

    Why Fortescue and these ASX shares just raced to 52-week highs

    The Fortescue Metals Group Limited (ASX:FMG) share price is one of three that hit a 52-week high this week. Here's why...

  • These 10 ASX 200 shares were the best-performers in FY19
    Motley Fool19 days ago

    These 10 ASX 200 shares were the best-performers in FY19

    The Nearmap Ltd (ASX:NEA) share price and the Afterpay Touch Group (ASX:APT) share price were amongst the best-performing shares on the ASX 200 in FY 2019...

  • ASX 200 lunch time report: BHP lower, Afterpay & Westpac higher
    Motley Fool21 days ago

    ASX 200 lunch time report: BHP lower, Afterpay & Westpac higher

    Afterpay Touch Group Ltd (ASX:APT), BHP Group Ltd (ASX:BHP), and Westpac Banking Corp (ASX:WBC) shares have been making a splash on the ASX 200 on Friday...

  • Top brokers name 3 ASX shares to sell today
    Motley Fool22 days ago

    Top brokers name 3 ASX shares to sell today

    Fortescue Metals Group Limited (ASX:FMG) shares are one of three that top brokers have named as sells this week...

  • Here are the 10 best mid-cap shares of 2019
    Motley Fool23 days ago

    Here are the 10 best mid-cap shares of 2019

    Nearmap Ltd (ASX: NEA), Jumbo Interactive Ltd (ASX: JIN) and an eclectic bunch of other companies feature on this list.

  • Iron Update: BHP shares at new 52-week high
    Motley Fool24 days ago

    Iron Update: BHP shares at new 52-week high

    The BHP Group Ltd (ASX: BHP) share price has hit a new 52-week high

  • The ASX shares behind Regal Funds 74% gain in May
    Motley Fool29 days ago

    The ASX shares behind Regal Funds 74% gain in May

    Regal Funds Management announces 74% return in May, and some of the winners include Appen Ltd (ASX: APX) and Zip Co Ltd (ASX: Z1P).

  • Rio Tinto share price could sink lower after downgrading its guidance
    Motley Foollast month

    Rio Tinto share price could sink lower after downgrading its guidance

    The Rio Tinto Limited (ASX:RIO) share price could sink lower after cutting its iron ore shipments guidance overnight...

  • Is the South32 share price in the buy zone?
    Motley Foollast month

    Is the South32 share price in the buy zone?

    Is the South32 Ltd (ASX: S32) share price in the buy zone?