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Last $3.26 USD
Change Today -0.047 / -1.42%
Volume 1.9K
As of 8:10 PM 05/22/15 All times are local (Market data is delayed by at least 15 minutes).

fortescue metals-spon adr (FSUGY) Snapshot

Open
$3.27
Previous Close
$3.31
Day High
$3.28
Day Low
$3.26
52 Week High
07/30/14 - $9.25
52 Week Low
04/13/15 - $2.66
Market Cap
5.1B
Average Volume 10 Days
7.1K
EPS TTM
--
Shares Outstanding
1.6B
EX-Date
03/2/15
P/E TM
--
Dividend
$0.09
Dividend Yield
6.69%
Current Stock Chart for FORTESCUE METALS-SPON ADR (FSUGY)

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fortescue metals-spon adr (FSUGY) Related Businessweek News

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fortescue metals-spon adr (FSUGY) 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.

10,000 Employees
Last Reported Date: 02/16/15
Founded in 2003

fortescue metals-spon adr (FSUGY) 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-spon adr (FSUGY) Key Developments

Fortescue Metals Receives Approaches For Its Assets

Fortescue Metals Group Limited (ASX:FMG) may be forced to consider drafting in a strategic partner, shutting mines or raising equity. It is loath to contemplate the latter action but sources said a raising against the ADU 3 billion of mining-assets could be done if necessary. The more likely outcome, if iron ore slipped below Fortescue's pain threshold of $40 a tonne, is a joint venture agreement. Fortescue has already fielded several approaches from suitors for its assets, with both Australian and Chinese investors showing-interest. Cloudbreak and Christmas Creek, the jewel in Fortescue’s crown, will attract the greatest -attention so far. But while these options are all part of the battle plan, Twiggy, who owns 33% of Fortescue looks set to fight on with gritted teeth.

Fortescue Metals Group Lays Off First of an Expected 700 Workers at its Pilbara Iron Ore Mines

Fortescue Metals Group has laid off the first of an expected 700 workers at its Pilbara iron ore mines following roster changes announced two weeks ago. Up to 200 workers were made redundant at the Cloudbreak and Christmas Creek mines. The cull was the result of moves to abandon family-friendly rosters of eight days on, six off in favour of a new 14 on, seven off roster to help it cut costs. The new system will mean Fortescue can run its rosters with three panels of workers in each crew, rather than four, which is expected to allow the company to shed up to 700 workers and still maintain its planned export rate of up to 165 million tonnes a year. The job losses were timed to coincide with a shift change at the two mines, with some workers told at the end of the shift they would no longer be required. A second group was told of the cuts after arriving at Cloudbreak yesterday. The workers were told to collect any remaining belongings from their rooms before being returned to Perth. Further cuts are likely in coming weeks. A spokesman said the roster change decision was a difficult one but unfortunately beyond control.

Fortescue Metals Group Issues $2,300 Million of Senior Secured Notes

Fortescue Metals Group Limited completed an offering of Senior Secured Notes. The offering was initially launched at $1,500 million and due to demand was upsized to $2,300. The offering is expected to settle on or about 27 April 2015, subject to customary closing conditions. It is estimated that the net proceeds from this offering will be approximately $2,203 million, after deducting estimated discounts and issue commissions. Fortescue will use the net proceeds to: redeem the outstanding 2017 and 2018 Senior Unsecured Notes; to swap certain of the 2019 Notes for New Senior Secured Notes and to repay, redeem, repurchase or otherwise retire outstanding indebtedness maturing in 2019.

 

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Industry Analysis

FSUGY

Industry Average

Valuation FSUGY Industry Range
Price/Earnings 3.9x
Price/Sales 0.5x
Price/Book 0.7x
Price/Cash Flow 3.8x
TEV/Sales NM Not Meaningful
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