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Last €1.63 EUR
Change Today +0.005 / 0.31%
Volume 3.5K
As of 4:10 AM 05/27/15 All times are local (Market data is delayed by at least 15 minutes).

fortescue metals group ltd (FVJ) Snapshot

Previous Close
Day High
Day Low
52 Week High
07/31/14 - €3.45
52 Week Low
04/7/15 - €1.24
Market Cap
Average Volume 10 Days
Shares Outstanding
Dividend Yield

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fortescue metals group ltd (FVJ) 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 group ltd (FVJ) 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 (FVJ) Key Developments

Baosteel And CITIC To Invest In Fortescue

Baosteel Group Corporation and CITIC had held talks with Fortescue Metals Group Limited (ASX:FMG) about an investment in Fortescue. There are no moves to take over Fortescue. Instead, the companies are interested in buying a stake or increasing an existing stake, sources said.

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.


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Industry Average

Valuation FVJ Industry Range
Price/Earnings 4.3x
Price/Sales 0.5x
Price/Book 0.8x
Price/Cash Flow 4.2x
TEV/Sales NM Not Meaningful

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