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FMG in the yearly comp .SP has been fluctuating a bit but is still a good-un either as a trade or hold.
One might suggest oophs
Isn't it the way for FMG management FIFO ..no... LIFO last in first outOne might suggest oophs
It’s understandable, The mining side of things was being run as a separate entity to the “Fortescue Future Industries”/energy side of things. Each entity had its own CFO but as mentioned a few weeks back the decision has been made to combine the two, so they don’t need two CFO’s any more.
As the story goes way back when. Twiggy was getting a hair cut with his regular barber suggested to the husband and wife team to put their house on FMG when it was in its infancy. Were soon to become multi millionaires.Good stock movements. We've went far from $1.7 in 2015, to $6, to $29my only regret is I didn't have a lot of spare cash back then to drop a huge stack in late 2015.
Is your price target still $7 VC?
As a minimum.
Fundamentally it’s definitely not a dog, even if you think the Energy Business will turn out like Woolies Bet on Masters hardware, there is a fantastic Iron Ore Business to fall back on.Yes, @Value Collector , I only ever employed some mates to deliver newspapers, they are all multimillionaires now btw. My dilemma is whether to sell this plump pup at around $29.50 or whether to add some more knowing how well my unshod, starving mates did in life.
Fundamentally it is a dog, significant people resigning, hydrogen on the nose and Twiggy yahooing about the place like one of Scomo's mates with plates of a Sunday morning.
On the chart though it all looks good, with volume and a normal pullback today. Iron is sweet and the economy in WA seems to provide Twiggy with happy slaves to work for millions.
I might start selling newspapers. It is never too late.
Then again, a profit is a profit.
Decisions.
gg
Yeh, well all the experts think it is a dog. I don't think it is a dog btw just saying fundamentally it is a dog, so all your mates arre saying sell.Fundamentally it’s definitely not a dog, even if you think the Energy Business will turn out like Woolies Bet on Masters hardware, there is a fantastic Iron Ore Business to fall back on.
if the Energy Business does ok, it could easily end up twice the size of the Iron Ore business, and it’s basically a free bet, because all you are paying for at $29.50 in the Iron Ore businesses dividend stream.
The experts have been saying that since it was $1.80Yeh, well all the experts think it is a dog. I don't think it is a dog btw just saying fundamentally it is a dog, so all your mates arre saying sell.
I'm unsure because I go 60% on charts in my decision making and 40% on what your mates say. You see I'm never always right. that's the difference.
gg
If only if only. I bought into FMG in the very early days and sold out at around the $6 mark thinking it wouldn't do much better. Trouble was the Bloke in the Mirror wasn't singing very loudly about FMG. One of his very few blunders !!!!I still remember this discussion we had, FMG was under $3 at the time, and $7 seemed like a crazy prediction for me to make to most people.
but here we are 7 years later and the stock is $29 now
I just looked looked over some of the posts I made on this thread back in 2015 and 2016, it’s amazing how much flak I copped at the time for analysis that I thought was just basic rational thinking, but I was proven correct so that’s always a good feeling.
I feel like this guy.
The share price certainly has a chance of falling, it’s certainly going to fluctuate, but if it can average $2 franked dividend per year, that’s a 9.52% dividend yield based on a $30 buy price.I suppose the question in my mind is whether FMG is overpriced at the moment ? Is $29-30 a fair price or is there good reason to think it will fall back a few dollars ?
Today's close of play $29.88. Seems nothing is going to slow this train down at the moment. And of course the higher the SP the more wealthy Twiggy and Nicola are, on paper that is.I suppose the question in my mind is whether FMG is overpriced at the moment ? Is $29-30 a fair price or is there good reason to think it will fall back a few dollars ?
And the bigger their donations to charity will beToday's close of play $29.88. Seems nothing is going to slow this train down at the moment. And of course the higher the SP the more wealthy Twiggy and Nicola are, on paper that is.
There can't be any more c-suit perons there in FMG apart from Twiggy.Former Northern Territory chief minister Michael Gunner has quit Andrew Forrest's Fortescue, the latest high-profile departure from the billionaire's mining and energy empire.
Fortescue's green energy division hired Mr Gunner in October 2022 three months after he resigned from parliament, one of several big name recruits at the time including Guy Debelle, the Reserve Bank's former deputy governor.
However, Mr Gunner has joined the procession of executives leaving Fortescue.
A social media post blamed the amount of travel away from his base in Darwin following a promotion last year.
"After taking on the Australian Director role in August it meant more travel away from Darwin and the family, which I found too difficult.
"I’m taking a bit of time before deciding with the family what I do next and am now reporting for lunchbox duty," Mr Gunner said in a LinkedIn post.
Mr Gunner was initially hired to lead Fortescue Future Industries' northern Australian operations in November 2022.
He was then promoted to a position as director of Australia and New Zealand in August 2023.
"Working for Andrew and Fortescue was an incredible opportunity – a dynamic company with a bold green energy vision. I will always be a friend of the Fortescue family and an advocate for Fortescue and the path they are forging," Mr Gunner added.
A Fortescue spokesman said: "We respect Michael's decision and his personal reasons for making it, and wish him and his family well."
Earlier this week the finance boss of Fortescue's energy division, Deborah Caudle, left the company after a consolidation of Fortescue's finance functions.
A revolving door of executives have jumped ship from the company in the last 12 months as pressure grows on Fortescue to execute a high stakes pivot to green energy from its iron ore foundations which made its founder one of Australia's richest men.
In August 2023 Fortescue's chief executive Fiona Hicks and chief financial officer Christine Morris both quit while Mr Debelle resigned as a director of Fortescue Future Industries.
One must be careful about considering ex politicians to be skilled or valuable. Unfortunately C-Suite is often synonymous with talented or good.And another one goes from FMG.
From Evil Murdoch press
There can't be any more c-suit perons there in FMG apart from Twiggy.
At what point do shareholders start asking the obvious question.
Why have so many left?
Mick
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