Streetbeat News

FSUMF

Fortescue Metals Group Ltd

http://fmgl.com.au/

CEO

Elizabeth Gaines

Industry

Iron and Steel Mills and Ferroalloy Manufacturing

Open

11.90

Mkt cap

37B

Volume

2.2K

High

12.00

P/E Ratio

6.52

52-wk high

19.90

Low

11.90

Div yield

0.11

52-wk low

10.40

Fortescue Metals (OTC:FSUMF) has announced a $2.8 billion investment in electrifying its fleet, including 475 emission-free machines. Despite challenges like falling iron ore prices, the company is committed to achieving net-zero emissions by 2030, surpassing its peers. The initiative includes partnerships for battery-electric trains and aims to eliminate 95 million liters of diesel annually.

Portfolio Pulse from Stjepan Kalinic

September 25, 2024 | 11:41 am

Fortescue (OTC:FSUMF) has delayed its green hydrogen plans due to high energy prices and recent executive departures. The company remains committed to future green energy projects and has announced job cuts and new executive appointments.

Portfolio Pulse from Stjepan Kalinic

July 18, 2024 | 12:26 pm

Fortescue Metals Group (OTCQX:FSUMF) is facing significant challenges, including falling iron ore prices, executive turnover, infrastructure issues, and declining investor confidence. The company's stock has declined over 25% year-to-date, and major shareholder Capital Group has sold a substantial portion of its shares.

Portfolio Pulse from Stjepan Kalinic

June 20, 2024 | 12:43 pm

Iron ore prices have dropped nearly 25% from their peak in early January due to reduced demand from China's real estate and manufacturing sectors. Major iron ore producers like Vale SA, Rio Tinto Ltd., BHP Group Ltd, and Fortescue Ltd. reported a production increase of 1.7% in 2023, adding pressure to prices. The National People's Congress in Beijing provided no demand stimulus, with construction activity remaining low amid China's crackdown on property debt. The situation is exacerbated by high iron ore inventories at Chinese ports, indicating a supply surplus.

Portfolio Pulse from Stjepan Kalinic

March 11, 2024 | 9:31 pm

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