- Iron ore shipments for Fortescue in Q2 reached 49.4 million tons.
- The average revenue per dry metric ton (dmt) for Pilbara Hematite was $87.40.
- Total ore mined during the period amounted to 61.9 million tons.
- The company’s cash balance stood at $3.4 billion.
- Net debt was reported at $2.0 billion.
- Pilbara Hematite’s C1 cost per wet metric ton (wmt) was $18.24.
- For the year, capital expenditure on Metals is anticipated to be between $3.2 billion and $3.8 billion.
- Pilbara Hematite’s C1 cost for the year is projected to range from $18.50 to $19.75 per wmt.
- Market recommendations include 3 buys, 7 holds, and 8 sells.
Fortescue Metals on Smartkarma
Analyst coverage on Fortescue Metals on Smartkarma indicates a bearish sentiment, as highlighted by Clarence Chu in a recent report titled “Fortescue Placement – Discount Appears Attractive, but Momentum Has Been Very Weak.” The report discusses an undisclosed shareholder’s plan to raise US$1.25bn by selling a stake in Fortescue Metals. This substantial deal, equivalent to 13 days of the stock’s three-month average daily volume, comes with a 45-day lock-up period for the selling shareholder. Chu’s analysis delves into the deal dynamics, evaluating its attractiveness within the ECM framework.
A look at Fortescue Metals Smart Scores
| Factor | Score | Magnitude |
|---|---|---|
| Value | 3 | |
| Dividend | 5 | |
| Growth | 3 | |
| Resilience | 3 | |
| Momentum | 3 | |
| OVERALL SMART SCORE | 3.4 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
Fortescue Metals Group Ltd. is expected to have a bright long-term outlook, backed by a solid foundation in key areas. With a perfect score of 5 in the Dividend category, investors can anticipate consistent returns from the company. Additionally, Fortescue Metals scored well in the Resilience, Growth, and Momentum categories with scores of 3 each, indicating stability and potential for growth and market attractiveness.
Overall, Fortescue Metals Group Ltd. displays strength in essential aspects, bolstering confidence in its future performance. While scoring a 3 in both Value and Growth factors, the company demonstrates a balanced approach to investment. With its diversified operations across the globe, Fortescue Metals is positioned to capitalize on opportunities in the iron ore sector and maintain a competitive edge in the market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
Have feedback on this article? Concerned about the content? Get in touch with us directly.
💡 Before it’s here, it’s on Smartkarma
Sign Up for Free
The Smartkarma Preview Pass is your entry to the Independent Investment Research Network
- ✓ Unlimited Research Summaries
- ✓ Personalised Alerts
- ✓ Custom Watchlists
- ✓ Company Analytics and News
- ✓ Events & Webinars
