Stocks of the Hour: Battery Age Minerals, HyTerra, Vection Technologies
A snapshot of the stocks on the move, featuring Battery Age Minerals (ASX:BM8), HyTerra (ASX:HYT) and Vection Technologies (ASX:VR1, OTC:VCTNY).
Read MoreTag: FMG
Higher iron ore prices boost Fortescue revenue
A slightly higher average price for 2023-24 helped Fortescue (ASX:FMG) offset a dip in exports, resulting in a solid rise in earnings and a higher dividend for the year to June.
Read MoreFortescue eyes $US1.5 billion revenue boost
Fortescue (ASX:FMG) is looking at a $US1.5 billion-plus boost to revenue and a corresponding boost to earnings for the year ending June, judging by a comparison of average iron ore prices received by the company over the past two years.
Read MoreFortescue Metals Group recovers after setbacks
Fortescue Metals Group (ASX:FMG) managed to recover most of the tonnage lost due to December’s derailment and adverse weather in the first quarter of this year, according to its 2023-24 production and sales report released on Thursday.
Read MoreFortescue Metals Group to cut 700 jobs
Andrew "Twiggy" Forrest's Fortescue Metals Group (ASX:FMG) will sack 700 people, scale back its green ambitions, and reintegrate the group into one corporate structure.
Read MoreFortescue-backed hydrogen aviation start-up universal hydrogen shuts down
Universal Hydrogen, a start-up focused on hydrogen-powered aviation and backed by Fortescue, has shut down after depleting nearly $150 million in investor funds. Despite the company’s achievements, including a successful test flight of a hydrogen fuel cell-powered plane last year, it struggled to secure additional funding in a tough venture capital market.
Read MoreMagmatic Resources and Fortescue Metals announce joint venture
In March, Magmatic Resources (ASX:MAG) announced a joint venture with Fortescue (ASX:FMG) for the Myall copper-gold prospect in central western NSW.
Read MoreFortescue’s third-quarter iron ore production and sales disappoint again
For the second time in as many years, Fortescue’s (ASX:FMG) third-quarter iron ore production and sales have been weaker than expected.
Read MoreFortescue Group joins iron ore bonanza: Reports 41% profit increase
Fortescue Group (ASX:FMG) has joined the December half-year iron ore bonanza already shared by Rio Tinto, BHP, Mount Gibson, and Mineral Resources.
Read MoreFortescue faces pipeline leaks
Fortescue Metals' (ASX:FMG) troubled Iron Bridge export magnetite iron ore mine in WA's Pilbara continues to cause problems and is nowhere near planned capacity at this stage.
Read MoreFortescue Metals Group reports 1.4% drop in Q2 iron ore shipments
Fortescue Metals Group (ASX:FMG) revealed a small 1.4% fall in second-quarter iron ore shipments due to ongoing maintenance activities at some of its key projects in Western Australia’s Pilbara.
Read MoreFortescue and Woodside hydrogen projects face uncertainty
In a surprising turn of events, Australian companies, Fortescue (ASX:FMG) and Woodside (ASX:WDS), find their ambitious hydrogen projects hanging in the balance following proposed rule changes by the United States. These changes could potentially exclude them from accessing cash incentives under the Inflation Reduction Act (IRA), worth billions of dollars.
Read MoreFortescue Metals commits over $1.1 billion to green energy
Fortescue Metals (ASX:FMG) will commit more than $1.1 billion ($US750 million) to its first three projects on the list of ambitious plans to become a major force in hydrogen and renewable energy.
Read MoreASX down 0.12% at noon: Fortescue investing in US
Fortescue Metals Group (ASX:FMG) is investing $US35 million to establish a US Advanced Manufacturing Center with the potential to create up to 600 jobs and serve as a major production hub for automotive and heavy industry batteries, hydrogen generators, fast chargers, and electrolysers.
Read MoreFortescue’s sales guidance holds despite 3% shipment drop
Fortescue Metals Group (ASX:FMG) is sticking to its sales guidance for the year ending next June, even though it witnessed a 3% decline in shipments during the three months leading up to September. Additionally, the company anticipates a reduced contribution from its troubled Iron Bridge magnetite mine in the upcoming year.
Read MoreFortescue Metals and Genex partner in 25-year solar power agreement
Fortescue Metals (ASX:FMG) and Sydney-based renewable energy supplier Genex have entered into a 25-year solar power purchase agreement (PPA).
Read MoreFortescue invests in green hydrogen unicorn
Twiggy Forrest's Fortescue has confirmed its involvement as one of the lead investors in the US start-up Electric Hydrogen's Series C funding round.
Read MoreFortescue Metals witnesses departures: CEO Fiona Hick and CFO Christine Morris step down
Fortescue Metals Group (ASX:FMG) has recently experienced a notable series of leadership changes, as both its CEO, Fiona Hick, and Chief Financial Officer (CFO), Christine Morris, have departed from their roles.
Read MoreSudden departure of Fortescue’s iron ore CEO triggers speculation
The unexpected resignation of Fiona Hick, Fortescue Metal's (ASX:FMG) iron ore CEO, cast a shadow over the annual results of the world's fourth-largest iron ore group.
Read MoreInflation, iron ore, BHP, RIO, FMG, DRR
19 Jul 2022 – Fund Manager Chris Pedersen discusses inflation, iron ore, BHP Group, Rio Tinto, Fortescue Metals Group, Deterra Royalties.
Read MoreFortescue metals enters $8m farm-in and joint venture agreement with Strategic Resources
23 Jun 2023 – Australian iron ore giant Fortescue Metals Group (ASX:FMG) has secured an $8m farm-in and joint venture deal with ASX minnow Strategic Resources (ASX:SER) over its copper-nickel-gold tenements located in Canobie.
Read MoreResource Nuggets: FMG, S32
Challenges abound for the resources space at the moment, as attested to by the flat performances of two local majors in this past quarter, Fortescue and South32.
Read MoreMarket Murmurs: FMG, ALQ
Differing fortunes for mining behemoth Fortescue and local medi-tech ALS on Wednesday, with operational dramas at the former and a slight earnings upgrade from the latter.
Read MoreTough Slog Persists for Fortescue
As expected after January’s half year production and sales update, Fortescue Metals Group has again cut its dividend as earnings fell to $US2.36b, just above market estimates.
Read MoreFrom Gabfest to Gabon for Fortescue
It finally looks like Fortescue Metals Group has signed a deal to start the trial iron ore mining operation in Gabon that investors and observers have been expecting for some time.
Read MoreIt’s Vale to the Good Times for Iron Ore Giants
A 46% slump in operating profit for Brazilian iron ore giant Vale is an early indication of the damage the recent price weakness is doing to the profits of BHP, Rio Tinto and Fortescue.
Read MoreCost Creep Finally Catches Up with Fortescue
The signs were there in the final part of the 2021-22 FY as costs clearly rose at its Pilbara iron ore mines, but they well and truly crystalised in the September quarter for Fortescue Metals.
Read MoreForrest Puts Foot Down re Fortescue Footprint
Andrew “Twiggy” Forrest’s Fortescue Metals Group has given itself eight years and a budget of around $9 billion to eliminate fossil fuel use and achieve zero terrestrial emissions.
Read MoreFortescue Hit by Rising Costs and Lower Ore Prices
Australia’s third iron ore major Fortescue Metals Group saw a 40% fall in its June 30 profit and a 43% slicing of its final dividend as iron-ore prices weakened and operating costs rose.
Read MoreFortescue’s $6 billion Revenue Hole
What Twiggy Forrest’s Fortescue Metals Group didn’t point out or explain in its June quarter and 2021-22 production report on Thursday was the $US6 billion hole in its annual revenue line.
Read MoreFortescue Pinning its Hopes on Ore Turnaround
The optimism shown in Fortescue Metals’ 2022-23 forecasts flies in the face of the negative outlook US broker Goldman Sachs issued this week for the global iron ore market.
Read MoreTwiggy Back Atop the Tree in Fortescue Restructure
Andrew Forrest will once again take the reins at Fortescue as part of a restructuring that will see its green energy business Fortescue Future Industries gain equal ranking at board level.
Read MoreFMG – Morgans rates the stock as Hold
The broker lowers its target price to $17.90 from $19.10. Hold.
Read MoreHigher Costs Take Some of the Gloss off Strong Fortescue Report
A mixed March quarter production report from Fortescue Metals with high production guidance for the year but also higher costs and a further delay for the Ironbridge magnetite project.
Read MoreFMG – Morgans rates the stock as Hold
After the analyst updates forecasts for the result, increasing 2H expense assumptions and raises estimated cash costs (C1), the target price falls to $18.80 from $20.20. Hold.
Read MoreEarnings Downtrend Continues for Fortescue
Shares in Fortescue Metals eased yesterday as the company’s earnings took a hit from softer prices, higher costs and the weaker demand for lower-grade iron ore.
Read MoreFortescue Feeling the Pinch from Ore Price Slump
Fortescue Metals is heading for a sharp slide in revenue and earnings for the December half after the average price the company gets for its iron ore slumped by nearly 40%.
Read MoreFMG – Morgans rates the stock as Hold
The analyst lifts the target price to $16.90 from $13 though maintains a Hold rating.
Read MoreForrest on the Hydrogen Trail in Argentina
Fortescue Metals Chairman Twiggy Forrest is continuing his global Green Hydrogen tour with news on Monday of a potential $US8.4 billion green hydrogen deal in Argentina.
Read MoreThe Devil’s in the Detail for Fortescue
Investors missed the important news of a sharp fall in average prices buried in the Fortescue quarterly report, focusing instead on the headline of record exports of 45.6 million tonnes for the period.
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