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Last €1.13 EUR
Change Today +0.042 / 3.86%
Volume 6.0K
As of 10:03 AM 08/28/15 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
08/29/14 - €3.00
52 Week Low
08/24/15 - €0.94
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.

4,057 Employees
Last Reported Date: 08/23/15
Founded in 2003

fortescue metals group ltd (FVJ) Top Compensated Officers

Chief Executive Officer and Executive Directo...
Total Annual Compensation: A$2.9M
Chief Financial Officer
Total Annual Compensation: A$1.3M
Director of Operations
Total Annual Compensation: A$1.2M
Compensation as of Fiscal Year 2015.

fortescue metals group ltd (FVJ) Key Developments

Fortescue Metals In Talks For Asset Sale

Fortescue Metals Group Limited (ASX:FMG) announced that it is "open to commercial discussions" with potential investors regarding its mines and infrastructure. Bloomberg reported that Hebei Iron and Steel Co.,Ltd. (SZSE:000709) and Tewoo Group Co., Ltd. had approached Fortescue regarding acquiring a stake in its infrastructure assets. Fortescue Metals stated: "As previously reported, while there is no imperative, Fortescue is open to commercial discussions with a range of groups on a regular basis at the mining asset level. There is no agreement of such nature with any party at this time." One source said it had been in discussions about trying to get third parties to use its railways, to boost tons handled and lift a sale price. Fortescue’s shares surged more than 9%.

Fortescue Reportedly In Talks For Sale Of Assets In China And Japan

Fortescue Metals Group Limited (ASX:FMG) is rumored to be in discussions for a potential sale of some of its assets with parties in China and Japan. The company is known to have held discussions with Baosteel Group Corporation and several Japanese firms, and is considering selling a stake of up to 20% in some if its mines, , people with knowledge of the matter said. The company has held talks with about 10 potential Asian investors, according to the people. In a statement Fortescue stated: "Fortescue holds discussions with third parties on many issues on a regular basis and is always open to commercial discussions with current and potential partners." Fortescue confirms that it does not comment on such speculation.

Fortescue's Assets Reportedly Up For Sale

Forrest talks to banks over sale of Pilbara hub Fortescue Metals Group Limited (ASX:FMG) may be preparing to put one of its largest iron ore mining assets up for sale, with talk company chairman Andrew Forrest is in discussions with investment banks about options for its AUD 11.7 billion Chichester Hub. It is understood that approaches have been made by Forrest to banks such as Macquarie, UBS and possibly Goldman Sachs concerning Chichester. Located in Western Australia's Pilbara region, Chichester Hub produces 90 million tonnes of iron ore a year and encompasses Fortes-cue's Cloudbreak and Christmas Creek mines. A sale or partial sale of the asset would help Fortescue reduce its AUD 9 billion debt pile and drive down its lofty gearing level, which sits at about 50 per cent.


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Industry Average

Valuation FVJ Industry Range
Price/Earnings 13.4x
Price/Sales 0.5x
Price/Book 0.6x
Price/Cash Flow 12.3x
TEV/Sales NM Not Meaningful

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