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

$20.14

25 Jul
2024

-1.180

OPEN

$20.65

-5.53%

HIGH

$20.83

12,525,681

LOW

$20.02

TARGET
$19.223

-1.05 change from previous day

 -4.6% 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) 303.6 xxx
DPS (cps) 201.4 xxx
EPS Growth N/A xxx
DPS Growth N/A xxx
PE Ratio 6.7 xxx
Dividend Yield 9.9% xxx
Div Pay Ratio(%) 66.3% 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: 10.35%

DIVIDEND YIELD CALCULATOR

Dividend Yield Today On Last Actual Payout :

 13.14

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

-0.6

No. Of Recommendations

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

UBS

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Morgan Stanley

xx/xx/xxxx

5

xxxxxxxxxxx

$xx.xx

xx.xx%

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Ord Minnett

xx/xx/xxxx

3

xxxx

$xx.xx

xx.xx%

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Morgans

26/07/2024

3

Hold

$23.00

14.20%

Significant selling pressure is building in Fortescue and Morgans warns fundamentals of both its iron ore and hydrogen/energy businesses are set to take a step in the wrong direction in FY25.

An exceptional June Q saw FY24 shipments finish just below the bottom end of guidance, while also helping on costs. FY25 guidance for iron ore shipments and costs both disappointed versus consensus.

Spend in Fortescue’s energy division and decarbonisation efforts is expected to be substantial in FY25.

Target falls to $23.00 from $24.70, Hold retained.

FORECAST
Morgans forecasts a full year FY24 dividend of 201.37 cents and EPS of 323.42 cents.
Morgans forecasts a full year FY25 dividend of 178.49 cents and EPS of 297.48 cents.

Macquarie

xx/xx/xxxx

5

xxxxxxxxxxxx

$xx.xx

xx.xx%

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Bell Potter

xx/xx/xxxx

5

xxxx

$xx.xx

xx.xx%

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Citi

xx/xx/xxxx

3

xxxxxxx

$xx.xx

xx.xx%

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EXTRA COVERAGE
Display All Commentary

No. Of Recommendations

1

Please note: unlike Broker Call Report, BC Extra is not updated daily. The info you see might not be the latest. FNArena does its best to update ASAP.

BROKER DATE RATING RECOMMENDATION TARGET PRICE % TO REACH TARGET COMMENTARY

Goldman Sachs

09/07/2024

5

Sell

$16.20

-19.56%

For the second half of 2024 commodities outlook, Goldman Sachs remains most positive on copper, aluminium, and metallurgical coal on forecast market deficits.

On the other hand, the broker remains bearish thermal coal and battery materials (lithium, nickel) on forecast market surpluses. Elsewhere, the benchmark 62% iron ore price is expected to average between US$100-105/t over the remainder of the year.

The broker's target for Fortescue falls to $16.20 from $16.90 on lower FY25 iron ore shipment forecasts for both hematite and
magnetite. The iron ore capex estimate is increased, but also reduced for green capex. Sell.

FORECAST
Goldman Sachs forecasts a full year FY24 dividend of 193.75 cents and EPS of 299.01 cents.
Goldman Sachs forecasts a full year FY25 dividend of 94.58 cents and EPS of 172.39 cents.
Access Stockbroker Research History >

FMG STOCK CHART

FNArena News on FMG

1
Next Week At A Glance – 22-26 July 2024

Jul 19 2024 - Weekly Reports
2
Rudi’s View: Rate Cuts, Growth & Small Caps

Jul 18 2024 - Rudi's View
3
Material Matters: Iron Ore, Gold & Coal

Jul 12 2024 - Commodities
4
Rudi’s View: Gold, Healthcare, Staples & Copper

Jul 11 2024 - Rudi's View
5
ESG Focus: The Little Big Things – 10-07-2024

Jul 10 2024 - ESG Focus

Latest Iron Ore News

1
Fortescue Shares Oversold

Jul 09 2024 - Technicals
2
Rudi’s View: Copper, Lithium, Retailers & TechnologyOne

Jun 27 2024 - Rudi's View
3
Deterra Seeks Growth Through Diversification

Jun 18 2024 - Small Caps
4
ESG Focus: The Little Big Things – 15-05-2024

May 15 2024 - ESG Focus
5
Fortescue: Ready To Rally

Mar 26 2024 - Technicals
6
ESG Focus: Grid Set To Enter An Iron Age

Sep 21 2023 - ESG Focus
7
Mineral Resources: Downturn Complete

Jul 04 2023 - Technicals
8
Bullish On Grange Resources

Jan 17 2023 - Technicals
9
Iron Ore: Keep Watch

Dec 08 2022 - Technicals
10
Upside For Fortescue

Dec 06 2022 - Technicals