Fortescue Metals Group Stock News

Citi says there is better value in other iron ore miners after FMGs strong recovery

Australian shares edged lower on Wednesday, as the first confirmed community case of the Omicron coronavirus variant stoked fears of reimposition of restrictions and delay an economic recovery, ahead of third quarter GDP data. The S&P/ASX 200 index lost 0.35% at 7,230.7 by 2351 GMT. The benchmark gained 0.22% on Tuesday. Australian authorities confirmed a person with COVID-19 had the new Omicron variant after disclosing that the person had been active in the community on Tuesday. Fears were also exacerbated by vaccine maker Moderna''s chief executive officer saying vaccines are likely to be less effective against the new variant, further fuelling a global selloff. Energy stocks tumbled as much as 1.25%, tracking a 6.2% drop in US crude futures overnight. Woodside Petroleum and Santos shed as much as 1.6% and 1.7%, respectively. The country''s fourth largest lender Australia and New Zealand Banking Group shed as much as 0.9% after it revealed a class action proceeding had been filed against it, relating to some "unfair" credit card contracts.

Australian shares closed lower on Monday for the second straight session, as the country reported its first cases of the Omicron coronavirus variant over the weekend. The S&P/ASX 200 index settled 0.54% lower at 7,239.7 after dropping more than 1% in early trade to its lowest in nearly two months. Australia confirmed two cases of the new Omicron variant on Sunday, putting the country''s reopening plans in jeopardy. Omicron, dubbed a "variant of concern" by the World Health Organization, is potentially more contagious than previous variants. Experts do not know yet if it will cause more or less severe COVID-19 compared to other strains. "The global markets sold off last week after the Omicron jolt, and even though we bounced back a little today, markets will be nervous until there is more clarity," said Brad Smoling, managing director at Smoling Stockbroking. The mining and tech sectors led the partial recovery from early falls as iron ore prices rose and bond yields declined, while financial and travel stocks bore the brunt of the selling.

Freeport-McMoRan and Fortescue Metals Group are both large-cap basic materials companies, but which is the superior investment? We will compare the two companies based on the

Freeport-McMoRan (NYSE:FCX) and Fortescue Metals Group (OTCMKTS:FSUGY) are both large-cap basic materials companies, but which is the superior investment? We will compare the two companies based on the strength of their profitability, dividends, risk, institutional ownership, valuation, analyst recommendations and earnings. Volatility and Risk Freeport-McMoRan has a beta of 2.12, suggesting that its stock price [] The post Reviewing Freeport-McMoRan (NYSE:FCX) and Fortescue Metals Group (OTCMKTS:FSUGY) appeared first on ETF Daily News .

Fortescue has a plan to achieve higher iron ore prices. The post Could this help Fortescue (ASX:FMG) mitigate the risks of falling iron ore prices? appeared first on The Motley Fool Australia .

Pilbara iron ore miner Fortescue will plead guilty to two counts of breaching WAs Aboriginal Heritage Act when it cleared land in February 2021, a lawyer for the Andrew Forrest-chaired company told Perth Magistrates Court on Friday.

Andrew (Twiggy) Forrest of Fortescue Metals has poked a stick in the eye of two of the biggest Australian export industries. He has managed to upset farmers and miners alike by privately lobbying the Australian government to divert fossil fuel subsidies. He is proposing the scheme be gradually phased out from 2025 to 2030 for []

The iron ore giant''s current share price indicates a huge dividend yield. But is that really true? We take a closer look The post Is the Fortescue (ASX:FMG) dividend really worth 28% in November? appeared first on The Motley Fool Australia .

The ASX romped higher on the back of better commodities prices, with Fortescue the standout performer among the biggest 200 stocks.

Australian shares ended higher on Tuesday, buoyed by gains in the mining and energy sectors, a day after BHP Group and Woodside Petroleum gave the final sign-off on their $12 billion Scarborough LNG project. The S&P/ASX 200 rose 0.78% to close at 7,410.6, marking its best session since Nov. 12, after a 0.59% fall in the previous session. The mining index climbed 2.5%, boosted by BHP''s 4% jump after the mining giant and Woodside late on Monday gave their final go-ahead to develop the Scarborough gas field and inked an agreement to merge BHP''s petroleum assets into Woodside. A sharp rise in the price of iron ore also supported the sector. Iron ore miner Fortescue climbed 9.8%, its biggest single-day gain in almost a year. Rio Tinto gained 3.6%. "The iron ore strength helps, with the BHP-Woodside (merger), more details on that merger also helped and we are seeing a little bit of a bounce back in the banks, of course, which has helped as well," said Henry Jennings, senior analyst and portfolio manager at Marcustoday Financial Newsletter.

This deal could make Fortescue Metals Group Limited''s (ASX:FMG) Fortescue Future Industries billions of dollars. The information in this article contains general financial advice only and is authorised by The Rask Group Pty Ltd (ABN: 36 622 810 995). That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you do not know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. Please take a moment to read our Financial Services Guide (FSG) . The post This deal may make Fortescue Future Industries (FFI) billions of dollars appeared first on Rask Media .

The S&P/ASX 200 Index put on 0.8 per cent to 7,410.60. Bapcor fell 9.6 per cent and Fortescue rallied 9.8 per cent.

A gain of almost 10 per cent for Fortescue shares was among the big moves on the ASX as miners benefited from a surge in iron ore prices.

A gain of almost 10 per cent for Fortescue shares was among the big moves on the ASX as miners benefited from a surge in iron ore prices.