FORTESCUE LIMITED (FMG)
Share Price Analysis and Chart

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FMG - FORTESCUE LIMITED

FNArena Sector : Iron Ore
Year End: June
GICS Industry Group : Materials
Debt/EBITDA: 0.55
Index: ASX20 | ASX50 | ASX100 | ASX200 | ASX300 | ALL-ORDS

Fortescue Metals is an Australian iron ore company with operations in the Pilbara, Western Australia. It is the fourth largest iron ore producer in the world and became a listed company, through a backdoor-listing, in 2003.

LAST PRICE CHANGE +/- CHANGE % VOLUME

$21.57

02 Jul
2024

-0.190

OPEN

$22.01

-0.87%

HIGH

$22.10

5,503,430

LOW

$21.52

TARGET
$20.476 -5.1% downside
Franking for last dividend paid out: 100%
OTHER COMPANIES IN THE SAME SECTOR
BCI . CIA . DRR . FEX . GEN . GRR . MGX . MIN . RHK .
FNARENA'S MARKET CONSENSUS FORECASTS
FMG: 1
Title FY24
Forecast		 FY25
Forecast
EPS (cps) 309.2 xxx
DPS (cps) 229.0 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 7.1 xxx
Dividend Yield 10.4% xxx
Div Pay Ratio(%) 74.1% xxx
This company reports in USD.
All estimates have been converted into AUD by FNArena at present FX values.

Dividend yield today if purchased 3 years ago: 11.11%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 11.95

Estimated Dividend Growth
(Average Of Past Three Years)

  %

Amount Invested

 $ 

Tell Me The Dividend After This Many Years
Past performance is no guarantee for the future. Investors should take into account that heavy swings in share price or exceptional circumstances (a la 2009) can have a significant impact on short term calculations and averages

Last ex-div: 28/02 - ex-div 108c (franking 100%)

HISTORICAL DATA ARE ALL IN AUD
Copyright © 2024 FactSet UK Limited. All rights reserved
Title 201820192020202120222023
EPS Basic xxxxxxxxxxxxxxx231.9
DPS All xxxxxxxxxxxxxxx175.0
Sales/Revenue xxxxxxxxxxxxxxx25,081.5 M
Book Value Per Share xxxxxxxxxxxxxxx878.6
Net Operating Cash Flow xxxxxxxxxxxxxxx11,004.3 M
Net Profit Margin xxxxxxxxxxxxxxx28.44 %

EPS Basic

DPS All

Sales/Revenue

Book Value Per Share

Net Operating Cash Flow

Net Profit Margin

Title 201820192020202120222023
Return on Capital Employed xxxxxxxxxxxxxxx27.31 %
Return on Invested Capital xxxxxxxxxxxxxxx20.79 %
Return on Assets xxxxxxxxxxxxxxx16.61 %
Return on Equity xxxxxxxxxxxxxxx27.31 %
Return on Total Capital xxxxxxxxxxxxxxx34.44 %
Free Cash Flow ex dividends xxxxxxxxxxxxxxx860.8 M

Return on Capital Employed

Return on Invested Capital

Return on Assets

Return on Equity

Return on Total Capital

Free Cash Flow ex dividends

Title 201820192020202120222023
Short-Term Debt xxxxxxxxxxxxxxx248 M
Long Term Debt xxxxxxxxxxxxxxx7,746 M
Total Debt xxxxxxxxxxxxxxx7,994 M
Goodwill - Gross xxxxxxxxxxxxxxx-
Cash & Equivalents - Generic xxxxxxxxxxxxxxx6,440 M
Price To Book Value xxxxxxxxxxxxxxx2.52

Short-Term Debt

Long Term Debt

Total Debt

Goodwill - Gross

Cash & Equivalents - Generic

Price To Book Value

Title 201820192020202120222023
Capex xxxxxxxxxxxxxxx4,312.8 M
Capex % of Sales xxxxxxxxxxxxxxx17.20 %
Cost of Goods Sold xxxxxxxxxxxxxxx11,927 M
Selling, General & Admin. Exp & Other xxxxxxxxxxxxxxx1,250 M
Research & Development xxxxxxxxxxxxxxx-
Investments - Total xxxxxxxxxxxxxxx506 M

Capex

Capex % of Sales

Cost of Goods Sold

Selling, General & Admin. Exp & Other

Research & Development

Investments - Total

EXPERT VIEWS
Display All Commentary

Sentiment Indicator

-0.5

No. Of Recommendations

7
BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

2

xxxxxxxxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Citi

19/06/2024

3

Neutral

$23.50

8.95%

Citi has updated its commodity price projections.

The broker lowers the iron ore price by -4% for 2024 to US$110/t, and lifts alumina and aluminium by 12% and 8%, to US$430 and US$2488/t, respectively, for 2024.

For 2025, Citi lifts aluminium by 13% to US$2950/t and copper by 14% to US$12,000/t.

On balance, the broker views the higher upside for copper and uranium and the greatest downside risk to prices for manganese and alumina.

The analyst adjusts the Fortescue FY25 EBITDA forecast by -7% due to lower iron ore price estimates.

Neutral rating and target price of $23.50 unchanged.

FORECAST
Citi forecasts a full year FY24 EPS of 297.35 cents.
Citi forecasts a full year FY25 EPS of 215.00 cents.

Bell Potter

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgans

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

Broker commentary and detailed analysis is available for Full Members Only.
Login above or Get a Free Trial
Access Stockbroker Research History >

FMG STOCK CHART

FNArena News on FMG

1
June In Review: FY24 Another Double Digit Return

2:50 PM - Australia
2
Rudi’s View: Copper, Lithium, Retailers & TechnologyOne

Jun 27 2024 - Rudi's View
3
Rudi’s View: Traditional Value Is A Flawed Narrative

Jun 26 2024 - Rudi's View
4
May In Review: Inflation Spoils The ASX Party

Jun 05 2024 - Australia
5
ESG Focus: The Little Big Things – 15-05-2024

May 15 2024 - ESG Focus

Latest Iron Ore News

1
Rudi’s View: Copper, Lithium, Retailers & TechnologyOne

Jun 27 2024 - Rudi's View
2
Deterra Seeks Growth Through Diversification

Jun 18 2024 - Small Caps
3
ESG Focus: The Little Big Things – 15-05-2024

May 15 2024 - ESG Focus
4
Fortescue: Ready To Rally

Mar 26 2024 - Technicals
5
ESG Focus: Grid Set To Enter An Iron Age

Sep 21 2023 - ESG Focus
6
Mineral Resources: Downturn Complete

Jul 04 2023 - Technicals
7
Bullish On Grange Resources

Jan 17 2023 - Technicals
8
Iron Ore: Keep Watch

Dec 08 2022 - Technicals
9
Upside For Fortescue

Dec 06 2022 - Technicals
10
Fortescue’s Decarbonisation Plan To Impact Dividends

Sep 26 2022 - ESG Focus