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FMG - Fortescue Metals

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Never looked at FMG before but reading the article from Resource Stocks the earnings potential looks awesome as you say with your numbers for 2009
 

michael_selway

Coal & Phosphate, thats it!
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michael_selway said:
Omg 2009, earnings start to in pack in fast!

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -1.0 -42.5 20.3 137.2
DPS -- 0.0 0.0 --

EPS(c) PE Growth
Year Ending 30-06-07 -42.5 -- --
Year Ending 30-06-08 20.3 49.7 --

thx

MS

Updated Forecasts, again 2009+ is the profitable year

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -1.0 -110.2 -38.9 154.5
DPS -- 0.0 0.0 --

thx

MS
 
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What has hapenned with this stock lately?

Not much. The last post was in August.

The share price has moved up a bit from it's recent lows.

There is still going to be a massive demand for Iron Ore over the next decade or so from not only China, but India, Vietnam and a host of other countries.

I think that this stock will start moving in the run up to Xmas and the New Year to be above $12

What do others think?

MiningGuru
 
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FMG has started to move now. The big funds and instos have started to take a position in this stock.

This will move higher strongly over the next couple of weeks IMO.
 
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The Australian
Speculation swirls as Fortescue shares surge
Kevin Andrusiak
December 15, 2006
SPECULATION is growing that overseas interests are continuing to bid up Fortescue Metals after the stock gained more than 7 per cent for a second consecutive day and turnover again topped 1 million shares.

Fortescue could not be contacted for comment yesterday, but market whispers have suggested either Russian or Chinese interests have taken a shine to the iron ore aspirant, which is creeping closer to production.

Fortescue wants to ship 45million tonnes of ore a year from its $3.7 billion Chichester Ranges project in the Pilbara in what would mark a break of the iron ore duopoly in the region of mining giants BHP Billiton and Rio Tinto.

Fortescue's share price, which has already made its visionary founder Andrew "Twiggy" Forrest a paper billionaire, rose 82c to a new record high of $12.27 yesterday. The shares started the week at $10.75.

Iron ore contract negotiations with Chinese and Japanese steel makers to set iron ore prices for 2007 have begun in earnest, with analysts tipping a 5-10 per cent price rise.

However, Fortescue's first shipment is not expected until 2008 and it has already locked in offtake arrangements.

BBY analyst John Veldhuizen, one of only two market analysts to cover the stock, has maintained a $16.80 recommendation for Fortescue.

"There was always going to be a staggered re-rating of the stock," Mr Veldhuizen said.

"But the merits and value are there and the project has scope to expand beyond the 45 million tonne capacity.

"There will always be hiccups along the way, but the project is shaping up nicely."

Meanwhile, industry sources said yesterday that Fortescue was being blocked from complete rail access to its port infrastructure by a rogue tenement holder who was refusing to sell a 70-square-kilometre parcel of land vital for the company's rail corridor.

Late last month, Fortescue reported it had been granted a Special Railway Licence by the West Australian Government allowing it to construct, operate and maintain its planned Pilbara railway.

However, the sources said a key tenement holder planned to challenge the decision in court.
 
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Continued its surge today.

It is now pushing $13. I wouldn't be surprised at all if it passes this level this afternoon.

This is a clear breakout!
 

michael_selway

Coal & Phosphate, thats it!
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MiningGuru said:
Continued its surge today.

It is now pushing $13. I wouldn't be surprised at all if it passes this level this afternoon.

This is a clear breakout!

FMG has done better than PDN in the last 3 years!

thx

MS
 
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Trading Halt this morning Pending an announcement.

Must have something to do with the accumulation of shares and price rise last week.
 
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I owned these when they dropped to $2.80 on bad news and made a buck up to $3.50, but now I'm kicking mysef for not keeping the flamin' things!....:banghead:
 

michael_selway

Coal & Phosphate, thats it!
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Stop_the_clock said:
This baby has been flying of late

I wonder what 2010 forecast EPS is

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -1.0 -58.6 -56.4 84.5
DPS 0.0 0.0 0.0 0.0

thx

MS
 
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Iron ore investment

Chinese steelmakers are steaming ahead with their plans to build an iron ore project in the Pilbara in Western Australia.

Hong Kong conglomerate, CITIC Pacific, says it expects the $3.2 billion Cape Preston project to become China's single biggest direct investment in Australia's iron ore industry in a few years.

The move is part of the quest by Chinese steelmakers to escape their dependence on mining giants BHP Billiton, Rio Tinto and CVRD of Brazil.

It also holds options to mine up to 6 billion tonnes of the steel-making ingredient and says intensive drilling is under way to confirm reserves.
 

GreatPig

Pigs In Space
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I can tell you why it's shooting up now: because I took profit on it a few days ago :p: (and a good profit it was, but nothing like selling out to kick-start another run!).

Cheers,
GP
 
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Far out

this has come along way this my last post


$20 target price as tipped last year

edit: seller depth:

17.550 2,315 1
17.700 1,550 1
19.000 11,000 2
19.400 1,800 1
 
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Cyclones George (and Jacob?) at Port Hedland have been particularly tough on FMG sites and constructions. Poor bugas in site sheds that blew over. Surely FMG shares will slow down (if not go backwards) in the short term at least. :2twocents

http://news.ninemsn.com.au/article.aspx?id=253697
A Queensland man has died in a Perth hospital to become the third victim of cyclone George. ...Police spokeswoman Ros Weatherall said the man was an employee at the Fortescue Metals Group mining camp, where 47-year-old Perth mother of two Debra Till lost her life.
hopefully Jacob / Jake will weaken before it hits
http://www.abc.net.au/news/newsitems/200703/s1868589.htm Jacob weakens but remains on track to hit WA coastline
Tropical cyclone Jacob is continuing to track towards Western Australia's north-west coast. The cyclone weakened overnight to a category two system, easing fears that it may repeat the damage caused by cyclone George which hit the Pilbara region two days ago.

That cyclone left 47-year-old Debra Till dead and 28 construction workers injured. The Bureau of Meteorology says while cyclone Jacob has been downgraded it may still generate destructive winds of up to 145 kilometres an hour when it crosses the coast late tonight or early tomorrow morning.

A number of north-west communities have been placed on blue alert including Karratha, Port Hedland and Dampier with residents being warned to prepare for the passage of the cyclone. The Fortescue Metals Group says it has evacuated most of its workers from the Pilbara. More than 200 workers from Rail Camp One, which bore the brunt of cyclone George, have already flown back to Perth.

Another 200 from Rail Camp Two have also been evacuated and are being flown out of Port Hedland. The company says it also has workers accommodated near the Port Hedland Airport who are heading home before cyclone Jacob hits the coast. Fortescue says it will evacuate its Cloudbreak mine-site, which is more than 260 kilometres south of Port Hedland, if advised to do so by the Fire and Emergency Services Authority.
 
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