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Fortescue is an Australia-based iron ore miner. It has grown from obscurity start of 2008 to become the world's fourth-largest producer. Growth was fuelled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 185 million metric tons in 2022 means Fortescue supplies nearly 10% of global seaborne iron ore. Further expansion above 200 million metric tons is likely once it completes construction of its 22 million metric tons Iron Bridge magnetite mine. However, with longer-term demand likely to decline as China's economy matures, we expect Fortescue's future margins to be below historical averages. More recently, Fortescue diversified into green energy, with ambitions to become a major supplier of green hydrogen and green ammonia. Its efforts are early stage.
URL https://www.fmgl.com.au
Investor Relations URL https://www.fmgl.com.au/investors
HQ State/Province N/A
Sector Materials
Industry Metals & Mining
Equity Style Large Cap/Value
Next Earnings Release Aug. 28, 2024 (est.)
Last Earnings Release Feb. 22, 2024
Next Ex-Dividend Date N/A
Last Ex-Dividend Date Feb. 28, 2024

Profile

Fortescue is an Australia-based iron ore miner. It has grown from obscurity start of 2008 to become the world's fourth-largest producer. Growth was fuelled by debt, now repaid. Expansion from 55 million metric tons in fiscal 2012 to about 185 million metric tons in 2022 means Fortescue supplies nearly 10% of global seaborne iron ore. Further expansion above 200 million metric tons is likely once it completes construction of its 22 million metric tons Iron Bridge magnetite mine. However, with longer-term demand likely to decline as China's economy matures, we expect Fortescue's future margins to be below historical averages. More recently, Fortescue diversified into green energy, with ambitions to become a major supplier of green hydrogen and green ammonia. Its efforts are early stage.
URL https://www.fmgl.com.au
Investor Relations URL https://www.fmgl.com.au/investors
HQ State/Province N/A
Sector Materials
Industry Metals & Mining
Equity Style Large Cap/Value
Next Earnings Release Aug. 28, 2024 (est.)
Last Earnings Release Feb. 22, 2024
Next Ex-Dividend Date N/A
Last Ex-Dividend Date Feb. 28, 2024