Company Information
Fortescue Metals Group Limited (ASX: FMG)
Fortescue Ltd is an Australian company that has branched out from its origins in metals into green technology and energy. It operates through two main divisions: Metals and Energy. The Metals division handles everything from finding and digging up iron ore to processing and shipping it, and also looks for other types of minerals. On the other hand, the Energy division is focused on creating projects that produce green electricity, as well as green hydrogen and ammonia.
The company is investing in its iron ore business, notably through its Iron Bridge project and its stake in Gabon’s Belinga Iron Ore Project. Its operations are largely based in the Pilbara region’s Chichester, Solomon and Western hubs. These hubs are connected to Port Hedland’s shipping facilities, which include the Herb Elliott Port and the Judith Street Harbour towage facility. The Solomon Hub is also a significant part of its infrastructure, located in the mountain ranges near other major hubs.
Financially, Fortescue is doing well. Over twelve months, it made a revenue of 28.2 billion AUD and a net income of 8.76 billion AUD. Despite a stable revenue stream, the company’s net income dropped by 22.58% from 6.20 billion to 4.80 billion AUD year on year, partly due to an increase in the cost of goods sold. Fortescue was founded in 1983 and employs around 11,690 people.
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Fortescue Metals Group Limited (ASX: FMG) Live Chart
Fortescue Metals Group Limited (ASX: FMG) Forecast
Analysts from Wall Street have provided various 12-month price predictions for the shares of Fortescue Metals Group Ltd. On average, they have set a target price of AU$20.18. The most optimistic analyst expects the stock to reach AU$26.91, while the most pessimistic one has set a target of AU$13.46. These projections suggest that the stock might decrease in value by 21.89% from its recent trading price of AU$25.83.
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