Sign up now and fund within 24h to get A$10.
Claim It Now
Stake logo

FMG

Fortescue Ltd

1 day chart

About FMG

Fortescue Ltd (FMG, formerly Fortescue Metals Group Ltd) is an ASX-listed company which is into exploration, development, production, processing and sale of iron ore, and the transition to a global green renewables and resources Company through the activities of FFI.

Buy Australian shares starting with FMG. Invest today with a CHESS-sponsored investing platform!

Sector

Materials

CEO

Mr Dino Otranto

Industry

Metals & Mining

Market Capitalisation

$86.85B

Price-earnings ratio

11.85

Dividend yield

6.29%

High today

$28.40

Low today

$27.66

Open price

$28.10

52-week high

$29.95

52-week low

$18.91


Announcements





What does Fortescue Metals Group (FMG) do and how does it make money?

Its boss is Australia's iron man – not in the athletic sense. Fortescue Metals Group Limited is a global leader in the iron ore industry. The company specialises in the exploration, development, production, processing and sale of iron ore in Australia and internationally. Fortescue is a core supplier of seaborne iron ore to China, Japan and South Korea.

Headquartered in East Perth, Fortescue currently owns and operates the following: 

  • Chichester Hub — Located in the Chichester Ranges of Pilbara, WA, the Chichester Hub is comprised of the Cloudbreak and Christmas Creek mines. The hub has an annual capacity of approximately 100 million tonnes per annum (mtpa) of iron ore.

  • Solomon Hub — Situated in the Hamersley ranges of Pilbara and 120 kilometres west of the Chichester Hub, the Solomon Hub is comprised of the Firetail, Kings Valley, and Queens Valley mines. Its annual capacity is of approximately 75 mtpa of iron ore.

  • Western Hub — Currently in development, the Western Hub is home to the Eliwana mine. This hub contains significant amounts of high iron content bedded iron ore. The development is located 140 kilometres west of the Solomon Hub.

  • Iron Bridge Magnetite Project — Located 145 kilometres south of Port Hedland, the project includes the North Star and Glacier Valley Magnetite ore bodies. Still under development, the project should eventually deliver 22 mtpa of high grade 67% Fe magnetite concentrate product. It's an unincorporated joint venture between Fortescue’s subsidiary FMG Iron Bridge and Formosa Steel IB.

Fortescue is also currently exploring for copper across 1,350 square kilometres of land in Ecuador, and for copper-gold across 3,230 square kilometres in Argentina. It is also assessing further mining opportunities in Peru, Chile, Brazil, Portugal and Kazakhstan.

Learn more about how to buy Fortescue Metals Group (FMG) shares on the Stake platform.

Is Fortescue Metals a profitable company?

Yes, Fortescue Metals is profitable and its financials are impressive.

The company’s revenue rose from A$13.93b to A$19.12b to A$29.87b in FY2019, FY2020 and FY2021, respectively. Net income rose at a compound annual growth rate of 75.9% over the past three financial years too, from A$4.46b to A$7.06b to A$13.8b.

At the end of FY2021, the company held A$12.96b of free cash flow on its books.

Is FMG a good investment?

Some investors are enthusiastic about FMG stock as the company has been a consistent dividend distributor for more than a decade. The company’s financials are also immensely strong.

However, other investors are less excited. As Fortescue operates in the iron ore industry, the FMG stock price is heavily dictated by the actual price of iron ore. This price can jump up and down depending on macroeconomic conditions and the demand for iron ore.

At this time, some investors are also wary of inflationary pressures and heightened tensions between Australia and China.

Should I invest in FMG or BHP?

FMG and BHP are suitable investments if you want to invest in one of the biggest metals and mining companies on the Australian Securities Exchange. As of 9 June 2023, $BHP has a larger market capitalisation than $FMG, at $223.55b compared to $63.11b.

Compare BHP vs FMG and learn more about these mining stocks including their market caps, 52-week highs and lows, and dividend yield.

Does FMG stock pay dividends?

FMG stock has distributed dividends without fail since 2011. The company usually pays twice a year but paid dividends three times in 2019.

In 2021, Fortescue paid a dividend of A$1.47 per share in March and a dividend of A$2.11 in September. The company’s latest dividend (at the time of writing), of A$0.86, was paid out to shareholders at the end of February 2022.

Fortescue also offers shareholders the option of a DRP (Dividend Reinvestment Plan) to automatically reinvest dividend payments back into FMG stock each time they are paid out.

Who owns FMG stock?

Institutions own the majority of FMG stock holding 56.5% of the total float. The general public holds 31.2% with public and private companies holding the remainder.

Some of FMG stock’s biggest owners include Hunan Valin Steel (8.76%), Capital Research and Management Company (6.65%), Emichrome Pty Ltd (3.02%), The Vanguard Group (2.76%), BlackRock (2.52%), Pendal Group Limited (0.72%), SIX Group AG, Asset Management Arm (0.47%), Geode Capital Management (0.44%) and State Street Global Advisors (0.4%).

Fortescue Chairman Dr Andrew ‘Twiggy’ Forrest AO holds the most stock via his company Tattarang Pty Ltd (36.47%) and as an individual (0.3%).

How do I buy FMG stock?

Stake offers a quick and easy way to purchase FMG shares – along with 2,000+ other Australian stocks and ASX ETFs – for a brokerage fee of only A$3.

Stake is a CHESS sponsored investing platform, meaning that when you buy ASX shares, you get a HIN (Holder Identification Number) and stocks are held in your name.

With Stake, you can be in the market in under 5 minutes, whether it's the ASX or Wall St. If you’re interested in building your portfolio by adding FMG, sign up today.


FMG FAQs

Yes, the Stake platform allows you to buy FMG shares and over 8,000 stocks and ETFs across the ASX and Wall St.

One share of Fortescue Ltd is valued at $28.21.

The ticker symbol for Fortescue Ltd is FMG.

To buy FMG stocks in Australia you'll need to open an account with an investing platform like Stake.
To do so follow these steps:
  1. Sign up in minutes, all you need is some I.D.
  2. Choose Stake AUS
  3. Deposit directly into your Stake wallet and you're ready to invest in FMG

The Fortescue Ltd 52-week high stock price is $29.95.

The Fortescue Ltd 52-week low stock price is $18.91.

As of 24/02/2024 Fortescue Ltd has a market cap of $86.85B.


Related Stocks

This does not constitute financial advice. You should do your own research before making an investment decision. Past performance is not a reliable indication of future performance. No representation is made as to the timeliness, reliability, accuracy or completeness of the market data provided.


Stake logo
Over 7,000 5-star reviews
App Store logoGoogle Play logo

Subscribe to our free newsletters

By subscribing, you agree to our Privacy Policy.

Stakeshop Pty Ltd, trading as Stake, ACN 610105505, is an authorised representative (Authorised Representative No. 1241398) of Sanlam Private Wealth Pty Ltd (Australian Financial Services Licence No. 337927) ('Sanlam') and an authorised representative (Authorised Representative No. 1241398) of Airwallex Pty Ltd (Australian Financial Services Licence No. 487221) ('Airwallex'). Stake is not authorised by Airwallex under Airwallex’s AFSL to arrange for clients to be issued with securities as Airwallex is not authorised under its AFSL for this purpose. Stake is not authorised by Sanlam under Sanlam’s AFSL to arrange for clients to be issued with a non-cash payment facility as Sanlam is not authorised under its AFSL for this purpose. Stake SMSF Pty Ltd (‘Stake Super’) is not licensed to provide financial product advice under the Corporations Act. This specifically applies to any financial products which are established if you instruct Stake Super to set up a self managed super fund (‘SMSF’). When you sign up to Stake Super, you are contracting with Stake SMSF Pty Ltd who will assist in the establishment of a SMSF under a ‘no advice model’. You will also be referred to Stakeshop Pty Ltd to enable your trading account and bank account to be set up in order to use the Stake Website and/or App. Stakeshop Pty Ltd will also run marketing and promotions to you under. For more information about SMSFs, see our SMSF Risks page.The information on our website or our mobile application is not intended to be an inducement, offer or solicitation to anyone in any jurisdiction in which Stake is not regulated or able to market its services. At Stake and Stake Super, we’re focused on giving you a better investing experience but we don’t take into account your personal objectives, circumstances or financial needs. Any advice given by Stake is of a general nature only. As investments carry risk, before making any investment decision, please consider if it’s right for you and seek appropriate taxation and legal advice. Please view our Financial Services GuideTerms & ConditionsPrivacy Policy and Disclaimers  before deciding to invest on or use Stake or Stake Super. By using our website or service in any way, you agree to our Privacy Policy and Terms & Conditions. All financial products involve risk and you should ensure you understand the risks involved as certain financial products may not be suitable to everyone. Past performance of any product described on this website is not a reliable indication of future performance. Stake and Stake Super are registered trademarks in Australia.

Copyright © 2024 Stake. All rights reserved.