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    FMG   AU000000FMG4

FORTESCUE METALS GROUP LIMITED

(FMG)
  Report
End-of-day quote. End-of-day quote Australian Stock Exchange - 09/24
15.34 AUD   -1.22%
03:52aAustralia shares post third weekly loss as Evergrande debt crisis weighs
RE
09/22FORTESCUE METALS : Names New COO Iron Ore; Shares Jump 3%
MT
09/22FORTESCUE METALS : Ord Minnett rates FMG as Buy
AQ
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Australia shares extend losses as miners and energy stocks weigh, Oil Search shines

07/20/2021 | 03:15am EDT

* Miners and energy firms biggest losers on ASX 200

* Oil Search ends up 6.3% on rejecting Santos bid

* Healthcare stocks climb up to 1%

July 20 (Reuters) - Australian shares pared back sharp losses made in morning trade but ended lower on Tuesday, as a steep drop in mining and energy stocks outweighed gains in tech and healthcare firms.

The S&P/ASX 200 index extended losses into the second day, closing down 0.5% at 7,252.2 points, well off its opening lows of 1.1%.

On Tuesday, South Australia also entered lockdown, the third Australian state to do so as the country battled the worst COVID-19 outbreak of this year.

This hurt the Australian dollar, which was 0.31% lower.

"The currency looks really weak. Potentially we're going into stagflation, and the currency might get sold down a lot more," Mathan Somasundaram, CEO of Deep Data Analytics said.

"Over the next couple of days, if the U.S. market sells off, which is likely as even the global growth is in downgrade mode, that will hit our economy," he added.

The broader market weakness remained as other Asian stocks widened their losses, gripped by fears of a protracted economic recovery.

Aussie miners were among the biggest drags on the benchmark, slumping nearly 1.9% even as iron ore prices inched up.

The heavyweight miners Rio Tinto, BHP Group and Fortescue Metals lost between 0.9% and 2.4%.

Energy stocks slumped as oil prices dipped 7% overnight.

However, Oil Search was the sole gainer in the sector, rising 6.5% as it rejected a takeover bid from Santos . It also finished as the top gainer on ASX 200.

Australia healthcare stocks reversed losses to end 0.9% higher, with heavyweight CSL Ltd gaining 1.3%.

Additionally, a 0.4% rise in the tech stocks helped keep the losses on the benchmark in check.

In New Zealand, the benchmark S&P/NZX 50 index traded unchanged at 12,650.8 points.

The top percentage loser on the index was SkyCity Entertainment Group, down 3.6% on extending closure of its Adelaide casino operations. ($1 = 1.3650 Australian dollars) (Reporting by Savyata Mishra in Bengaluru; Editing by Shailesh Kuber)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
BHP GROUP -1.72% 37.72 End-of-day quote.-11.10%
CSL LIMITED -0.31% 312.01 End-of-day quote.10.18%
FORTESCUE METALS GROUP LIMITED -1.22% 15.34 End-of-day quote.-34.53%
OIL SEARCH LIMITED 1.26% 4.03 End-of-day quote.8.63%
SANTOS LIMITED 1.85% 6.61 End-of-day quote.5.42%
SKYCITY ENTERTAINMENT GROUP LIMITED 0.62% 3.24 End-of-day quote.0.93%
All news about FORTESCUE METALS GROUP LIMITED
03:52aAustralia shares post third weekly loss as Evergrande debt crisis weighs
RE
09/22FORTESCUE METALS : Names New COO Iron Ore; Shares Jump 3%
MT
09/22FORTESCUE METALS : Ord Minnett rates FMG as Buy
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09/22Fortescue Metals Group Limited Announces Executive Appointments
CI
09/21Australia shares fall as subdued copper prices weigh on metal stocks
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09/20Asia markets, yuan fight to stabilize as Evergrande looms large
RE
09/20Australia shares fall on weak financials, tech; China Evergrande spooks markets
RE
09/20FORTESCUE METALS : VTEC program continues to provide training and employment opportunities..
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09/19VULCAN ENERGY RESOURCES : Names New Chief Communications Officer; Shares Fall 5%
MT
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Analyst Recommendations on FORTESCUE METALS GROUP LIMITED
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Financials (USD)
Sales 2022 20 134 M - -
Net income 2022 8 738 M - -
Net cash 2022 180 M - -
P/E ratio 2022 5,55x
Yield 2022 13,4%
Capitalization 47 206 M 34 210 M -
EV / Sales 2022 2,34x
EV / Sales 2023 3,24x
Nbr of Employees -
Free-Float 50,6%
Chart FORTESCUE METALS GROUP LIMITED
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Fortescue Metals Group Limited Technical Analysis Chart | MarketScreener
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Technical analysis trends FORTESCUE METALS GROUP LIMITED
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 18
Last Close Price 15,34 $
Average target price 13,65 $
Spread / Average Target -11,0%
EPS Revisions
Managers and Directors
Elizabeth Anne Gaines Chief Executive Officer & Executive Director
Ian Wells Chief Financial Officer
John Andrew Henry Forrest Chairman
Fernando Pereira Director-Operations & Pilbara Operations
Mark Bradley Barnaba Deputy Chairman
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