Last A$2.23 AUD
Change Today +0.19 / 9.31%
Volume 92.4M
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As of 12:10 AM 01/29/15 All times are local (Market data is delayed by at least 15 minutes).

fortescue metals group ltd (FMG) Snapshot

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52 Week High
02/24/14 - A$6.23
52 Week Low
01/27/15 - A$1.92
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fortescue metals group ltd (FMG) Details

Fortescue Metals Group Limited produces and sells iron ore in Australia. The company holds various tenements covering the Chichester and Solomon hubs located throughout the Pilbara region of Western Australia. It supplies iron ore to customers in China and South East Asia. The company was founded in 2003 and is headquartered in East Perth, Australia.

4,608 Employees
Last Reported Date: 08/20/14
Founded in 2003

fortescue metals group ltd (FMG) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: A$1.8M
Chief Financial Officer
Total Annual Compensation: A$1.0M
Director of Operations
Total Annual Compensation: A$309.2K
Compensation as of Fiscal Year 2014.

fortescue metals group ltd (FMG) Key Developments

Fortescue Metals Group Limited Appoints Jean Baderschneider as Non-Executive Director

Fortescue Metals Group Ltd. announced the appointment of Dr. Jean Baderschneider to its Board as a Non-Executive Director. Dr. Baderschneider retired from ExxonMobil in 2013 where she was Vice-President, Global Procurement. She has been responsible for operations all over the world, including Africa, Middle East and Asia. Dr. Baderschneider is a past member of the Board of Directors of the Institute for Supply Management and the Executive Board of the National Minority Supplier Development Council (NMSDC).

Magnitogorsk Reportedly Considering Selling Portion Of Stake In Fortescue To Rashnikov

Open Joint Stock Company Magnitogorsk Iron & Steel Works (MICEX:MAGN) (MMK) is studying the option of selling a portion of the stake in Fortescue Metals Group Limited (ASX:FMG) to Viktor Rashnikov, who controls 86.6% of shares of Magnitogorsk, reported Interfax citing a steel industry source. The source said, "MMK is reconsidering ownership of the FMG stake given the significant change in the price on the iron ore market. Various options are possible, including purchase [by the shareholder] of a portion of the stake." How much of the 5% stake in FMG Rashnikov might buy has not been determined yet. The source said that the sale would be transacted at a market price regardless and the 5% stake is currently worth over $400 million. The source added, "Any final decision will be made no sooner than the first quarter of 2015."

Fortescue Metals Group Announces Executive Changes; Announces to Cut Jobs

Peter Meurs will stand down from his executive role at Fortescue Metals Group. Mr. Meurs would take a two-month sabbatical as development director. It is unclear in what capacity he will return. Allen & Overy partner Geoff Simpson and Mark Hancock would step down from its board, though Mr. Hancock remains with the company as its chief commercial officer. The company confirmed it is expected to shed staff in coming months in the wake of the capital spending cuts. The company not sure exactly of the numbers, and that will happen progressively over a couple of months because it will shut down that work at sensible places to stop it.


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Price/Sales 0.5x
Price/Book 0.7x
Price/Cash Flow 2.0x
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