Fortescue Metals Group Stock News

Fortescue Metals Group Limited (OTCMKTS:FSUGY) saw a significant increase in short interest during the month of November. As of November 30th, there was short interest totalling 113,000 shares, an increase of 213.9% from the November 15th total of 36,000 shares. Based on an average daily volume of 215,600 shares, the short-interest ratio is presently 0.5 []

If there’s one thing that’s raised the hackles of long-term Fortescue Metals Group investors it is the slick marketing campaign run by its green energy subsidiary.

Australian shares recovered from early falls to close flat on Tuesday, as gains in financials countered losses in retailers, while investors braced for a slew of central bank meetings this week, including by the US Federal Reserve. The S&P/ASX 200 index settled 0.01% lower at 7,378.40, clawing back from a 0.5% fall in early trade. Financials rose 0.2%, turning around from a 0.5% early fall, with three of the big four banks climbing between 0.04% and 0.6%. Commonwealth Bank of Australia slipped 0.5%. Retailers were the biggest losers on the benchmark, falling as much as 6% in their worst session since March 2020. The plunge came after Woolworths Group, Australia''s biggest supermarket chain, forecast lower first-half operating income from its domestic food business. Shares of Woolworths dived 7.7%, while those of rival Coles fell 2.7%. Miners climbed 0.6% as iron ore prices remained strong amid tight supply. Rio Tinto, BHP Group and Fortescue Metals rose between 0.05% and 1.4%. The Fed begins its two-day monetary policy meeting later in the day, and it is expected to announce a wrapping up of its bond buying stimulus sooner than previously communicated, potentially setting up earlier interest rate hikes next year.

WAM Leaders currently likes mining giant Fortescue. Here’s what they had to say. The post Leading fund manager says these blue-chip ASX shares are buys right now appeared first on The Motley Fool Australia .

Morgans isn''t a fan of the company''s plans or its share price The post This broker is bearish on the Fortescue (ASX:FMG) share price appeared first on The Motley Fool Australia .

ASX losing run snapped, Fortescue CEO leaves, gold miners outperform The S&P/ASX200 managed to snap a four-week losing run to post a 1.5 per cent gain over the week.This was despite falling 0.4 per cent on Friday ahead of an all-important inflation print in the US Shares in Fortescue (ASX: FMG) fell 0.8 per cent after CEO Elizabeth Gaines announced she would The post ASX closes 0.4% lower, Santos completes merger appeared first on The Inside Adviser .

Fortescue is looking for a new CEO, with a focus on the green transformation. The post Search for new Fortescue (ASX:FMG) boss focused on green transformation: Twiggy appeared first on The Motley Fool Australia .

The S&P/ASX 200 (INDEXASX:XJO) managed to snap a four-week losing run despite falling on Friday as Fortescue (ASX:FMG) shares made headlines.

Analysts said the move was not unexpected, although the timing was a bit sooner than some had anticipated.

Andrew Forrest has signalled a greater interconnectedness between Fortescue Metals Groups iron ore and green energy businesses while announcing Elizabeth Gaines would step down.

It is believed the iron ore miner saw the announcement of Ms Gaines job change as important enough to warrant a lightning visit to Sydney and two weeks of home quarantine.

Elizabeth Gaines is ‘transitioning’ to a new role after four years as chief executive of the WA iron ore miner.

Businessman Andrew Forrest has announced Fortescue Metals Group CEO Elizabeth Gaines will be stepping down from the role. Mr Forrest said this is part of the plan to turn Fortescue into a major vertically integrated green energy company. This has led to a requirement to strongly increase the very significant leadership and management dearth which weve had across our group and bring in a range of new skills, he said. Mr Forrest said in a series of conversations with Ms Gaines, she had indicated it was her time to depart from the role as the company takes a new direction. In the depth of those heart-to-heart conversations, Elizabeth has said this is time, Andrew, for me and you to support a whole new era, he said. This is time where we need to bring in very special skills in that renewable sector, in that green energy, and in that infrastructure, in that heavy industry sector. Mr Forrest said Ms Gaines would help to select the next person to fill the position and would be taking a role as a non-executive director.

The ASX 200 is finishing the week with a splutter The post ASX 200 (ASX:XJO) midday update: Fortescue CEO steps down, Westpac buyback update appeared first on The Motley Fool Australia .