Equity, Bottom-up Analyst, Investics Research

Sameer Taneja

A buy-side analyst with over 18 years of experience investing in Asian markets and specializing in the mid-small cap space, emphasizing value investing in companies with good free cash flows/dividends and long-term holding horizons. 
Exempt Financial Adviser (EFA) under CrossASEAN Research Pte Ltd. It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity, Bottom-up Analyst

Iron Ore Q3FY26 Operational Reports: Are The Miners Going To Find Diesel Supply/Price Challenging?

BHP Blinks First on China Index, Now Pressure Builds on Rio Tinto

Iron Ore Monthly (April 2026): Skew Repricing and Lower IV Point to Moderating Expectations Into Q3

Iron Ore: All Eyes On CMRG Negotiation, China Imports And Restocking Strong: Negative Long-Term

Iron Ore Price Below 100 USD/Ton: Subdued By High Port Inventories And Tepid China Data

Iron Ore: Stockpiling In Chinese Ports Continues, Over 45 Days Of Inventory Just At The Ports

Investics Research

It is important to note that the information provided by Investics Research is based on publicly available data and own knowledge, which has been gathered and analyzed from a variety of sources. While every effort has been made to ensure the accuracy and completeness of the information provided, it is not guaranteed to be free from errors or omissions. All forecasts and estimates are based on information that has been obtained from public sources that are considered to be reliable. The sources include but are not limited to, company announcements, exchange filings, presentations, etc. Investics does not guarantee the accuracy and completeness of the forecasts, estimates, and/or other information.

Equity Bottom-up Research

Equity Bottom-Up

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H1 FY26 NPAT of US$1.91bn (+23% YoY), driven by record H1 shipments of 100.2Mt, a 7% improvement in realised hematite price to US$91/dmt, and continued C1 cost discipline at US$18.64/wmt</li>
<li>
Near-Term growth is organic (Iron Bridge ramp to 10-12Mt FY26 guidance, decarbonization savings of US$2-4/t pre-2030). Copper optionality (Alta/Canariaco, BC, Kazakhstan) and Gabon iron ore are pre-FID.</li>
<li>
Interim dividend of A$0.62/sh (fully franked), up 24% YoY, representing a 65% payout ratio, consistent with the 50-80% policy. Total FY26e DPS of A$1.32/share (~6.3% yield).</li>
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H1 FY26 NPAT of US$1.91bn (+23% YoY), driven by record H1 shipments of 100.2Mt, a 7% improvement in realised hematite price to US$91/dmt, and continued C1 cost discipline at US$18.64/wmt

Near-Term growth is organic (Iron Bridge ramp to 10-12Mt FY26 guidance, decarbonization savings of US$2-4/t pre-2030). Copper optionality (Alta/Canariaco, BC, Kazakhstan) and Gabon iron ore are pre-FID.

Interim dividend of A$0.62/sh (fully franked), up 24% YoY, representing a 65% payout ratio, consistent with the 50-80% policy. Total FY26e DPS of A$1.32/share (~6.3% yield).


Fortescue Metals (FMG AU): Strong H1, Pre-2030 Earnings Bump From Decarbonization + Iron Bridge