Fortescue Metals Group Stock News

Fortescue''s CEO is stepping down The post Fortescue (ASX:FMG) share price falls following surprise CEO exit appeared first on The Motley Fool Australia .

Ms Gaines will remain with the company as the global green hydrogen brand ambassador and a member of the Fortescue board.

Fortescue Metals Group chief executive Elizabeth Gaines will step away from her role as the iron ore miner makes the transition to a green energy and resources group.

The head of one of Australias largest mining companies has announce their departure from the role

FMG chief executive Elizabeth Gaines will give up her role at the top as the miner continues its runaway transition from a pure iron ore play into a global green energy giant.

Fortescue Metals Group CEO Elizabeth Gaines is leaving her post as the company transitions from a pure iron ore play to a green energy and resources group.

The decarbonisation of Fortescue Metals Groups (Fortescue) locomotive fleet is ramping up with the arrival of two additional locomotives at Fortescue Future Industries (FFI) research and development facility in Perth, Western Australia. The two four-stroke locomotives will undergo further testing on the new fuel system, joining the first two-stroke locomotive which underwent testing earlier this[] The post Fortescue making plans to test green locomotives at rail operations in 2022 appeared first on International Mining .

JPMorgan Chase & Co. cut shares of Fortescue Metals Group (OTCMKTS:FSUGY) from an overweight rating to a neutral rating in a research report sent to investors on Monday, The Fly reports. Several other brokerages have also recently issued reports on FSUGY. UBS Group cut shares of Fortescue Metals Group from a neutral rating to a []

Australian shares edged lower on Thursday, as mining stocks fell after steel prices dropped due to sluggish downstream demand, though gains in Sydney Airport after regulators approved its buyout offset some of the losses. The S&P/ASX 200 index was down 0.1% at 7,394.9 by 1156 GMT. The benchmark had risen 1.3% on Wednesday. Sydney Airport, up 3%, was one of the top gainers on the benchmark, after the country''s competition regulator approved its A$23.6 billion ($16.92 billion) takeover. Among sub indexes, mining stocks fell 0.6%. Heavyweights BHP Group , Rio Tinto and Fortescue Metals all fell between 0.7% and 1.3%. They were tracking a downturn in Chinese stainless steel futures, which dropped to their lowest in more than three months on Wednesday. Lithium developer Vulcan Energy was a bright spot, gaining over 11% after it secured Volkswagen as an additional car industry customer for its environmental-friendly lithium hydroxide for automotive batteries. Gold stocks fell 0.56% led by Ora Banda Mining Ltd , down 5.97%, followed by Auteco Minerals Ltd, losing 5.63%.

To be used for research into green fuels.

Fortescue Metals Group is ramping up plans to decarbonise its Pilbara rail network by adding two locomotives to the green fuels testing facility operated by subsidiary Fortescue Future Industries at Hazelmere.

Australian shares notched their best session in more than two months on Wednesday, as surging commodity prices propelled miners higher, while easing fears surrounding the Omicron coronavirus variant lifted banks and aided broader sentiment. The S&P/ASX 200 index closed 1.3% higher at 7,405.4, recording their best session since Oct. 4. The benchmark settled 1% higher on Tuesday. Miners rose 2.4% to scale a 12-week closing high, benefiting from a jump in iron ore prices as easing monetary policy in leading consumer China boosted demand for ferrous materials. Global miner Rio Tinto rose 2.2% to hit its highest since Oct. 21, while shares of Fortescue Metals Group jumped 3.3%. Financials climbed 0.9%, with the "Big Four" banks rising between 0.3% and 1%. Shares in Australia also took their cue from a global relief rally on views that the Omicron variant will not cause major economic damage. "I think we are seeing a combination of some short-covering and ''buying the dip'' in Australia", said Brad Smoling, managing director of Smoling Stockbroking. "That said, I still think volatility is going to be very high going into the end of the year," he added.

Australian shares rose on Wednesday, led by mining and energy stocks on sharp rises in iron ore and oil prices, buoyed by hopes of limited disruption from the Omicron coronavirus variant. The S&P/ASX 200 index rose 0.65% to 7,361.4 by 2338 GMT, set for extending gains for a fourth straight session. The benchmark ended 0.95% higher on Tuesday. The gains also come a day after the central bank retained interest rates at 0.1%, keeping the economy flush with cash to allow a full economic recovery from the pandemic. Mining stocks rose as much as 2.2% to hit a two-month high, after a strong rally in benchmark iron ore futures. BHP, Rio Tinto and Fortescue all jumped between 2.5% and 3.5% each. Energy stocks advanced as much as 2.1% after oil prices surged more than 3% overnight, building on a nearly 5% rise the previous day as Omicron fears eased. Woodside Petroleum gained as much as 2.2%, after the country''s biggest independent oil and gas company said it would invest $5 billion in new energy products to curb its emmissions.

News out of the Fortescue camp has excited investors today. The post Heres why the Fortescue (ASX:FMG) share price is having a green day appeared first on The Motley Fool Australia .

Fortescue Metals Group Limited (OTCMKTS:FSUGY) Jefferies Financial Group decreased their FY2023 earnings per share estimates for Fortescue Metals Group in a report released on Sunday, December 5th. Jefferies Financial Group analyst C. Lafemina now anticipates that the company will post earnings per share of $2.34 for the year, down from their prior estimate of []