FMG - Fortescue Ltd

[eskys]

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Thank you, @TimeISmoney, will look at that this weekend. Hopefully, I can get my head around it.

Meanwhile, at Commsec, this is what's happening.
Most Popular Stocks

	Sells		Buys
	PLS		DRO
	BHP		ZIP
	RIO		BGL
	S32		WDS
	FMG		NST
	MIN		NDQ

 

[DrBourse]

@esky ....

 

[eskys]

Thank you, Doc. Appreciate that.

 

[eskys]

Price of iron ore going up nicely...........

102.80

( +2.89/2.89%)

Bid	102.75
Ask	102.85
Open	101.80
High	103.50
Low	101.60
Prev Day Settle	99.91

WeekMonth1 Year

As at 26 Jul 2024 10:20 AM

 

[TimeISmoney]

 

[qldfrog]

View attachment 181662

View attachment 181661

Nice meme

 

[TimeISmoney]

Here comes another sell off, I reckon into the $19 region next week.

DYOR

View attachment 181504

Holy heck, how low can we go, this is going to shake the tree with nerves.

BargainsRus coming your way.

 

[sptrawler]

Looks like a buy back in, is heading my way, I missed a couple of divs but the nearly 100% gain covered it.
Hopefully history repeats.

 

[basilio]

I wonder if Twiggy is buying up more stock? Certainly has the deep pockets if he wishes.
Currently sitting at 11.5% yield.

 

[TimeISmoney]

Looks like a buy back in, is heading my way, I missed a couple of divs but the nearly 100% gain covered it.
Hopefully history repeats.

They should be going into ex div soon but probably going to be close to the bottom unless another big holder sells at discounted prices.

Fortescue Investor Seeks to Sell A$1.9 Billion Worth of Shares

Fortescue Ltd. shares tumbled after Capital Group Cos. sold a A$1.9 billion ($1.2 billion) stake in the iron ore miner, with the shares priced at an almost 9% discount to Monday’s close.

www.bloomberg.com

 

[TimeISmoney]

I wonder if Twiggy is buying up more stock? Certainly has the deep pockets if he wishes.
Currently sitting at 11% yield.

A lot of people holding at higher prices like me will be topping up.

 

[basilio]

China’s COSCO Shipping, Fortescue to build green fuel supply chain​

Reuters | July 29, 2024 | 6:54 am Energy Top Companies Australia China Iron Ore

Australia’s Port Hedland, the world’s largest bulk-export terminal, handles cargoes for BHP, Fortescue Metals and Hancock Prospecting. (Image courtesy of The Western Australian Land Information Authority)

China’s COSCO Shipping Corporation has signed a preliminary agreement with Australia’s Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.

The memorandum of understanding includes exploring construction and deployment of green ammonia-fuelled vessels owned either by COSCO or jointly owned by both companies to transport iron ore and other minerals to reduce carbon emissions in the China-Australia iron ore green shipping corridor.

https://www.mining.com/web/chinas-cosco-shipping-fortescue-to-build-green-fuel-supply-chain/

 

[basilio]

I wonder if there is another $1Billion of stock waiting to be dropped on the market ? There doesn't seem to have been many bargain hunters at the moment. How would other shareholders know ?

The dropping of these massive share blocks on the market highlights another point. What is the value of an institutions shareholding in a major company ? In theory it is the closing price of a stock on any particular day. However reality says that selling major blocks of shares will depress the market significantly. And of course it will also create uncertainty and undermine confidence in the stock.

I also wonder about the interaction of very negative analysis of FMG and the sale of these institutional blocks of shares ? Is it possible analysts had a whisper about the likely sell off ? Or were the institutions persuaded by the analysis and decided to drop their bundle ?

 

[qldfrog]

China’s COSCO Shipping, Fortescue to build green fuel supply chain​

Reuters | July 29, 2024 | 6:54 am Energy Top Companies Australia China Iron Ore

Australia’s Port Hedland, the world’s largest bulk-export terminal, handles cargoes for BHP, Fortescue Metals and Hancock Prospecting. (Image courtesy of The Western Australian Land Information Authority)

China’s COSCO Shipping Corporation has signed a preliminary agreement with Australia’s Fortescue to jointly build a green fuel supply chain to help reduce pollution from the shipping industry, the Chinese company said on Monday.

The memorandum of understanding includes exploring construction and deployment of green ammonia-fuelled vessels owned either by COSCO or jointly owned by both companies to transport iron ore and other minerals to reduce carbon emissions in the China-Australia iron ore green shipping corridor.

https://www.mining.com/web/chinas-cosco-shipping-fortescue-to-build-green-fuel-supply-chain/

Low chance of SP increase with BS news like that, unless taxpayers are the ones paying for the next brain farts.

 

[basilio]

I wonder if this investor "bought"his FMG shares at $20.35 ? One day later and...... they are $18.55 !

MSN

 

[eskys]

I wonder if this investor "bought"his FMG shares at $20.35 ? One day later and...... they are $18.55 !

MSN

Don't know if this is part of the bulk trade this morning before market opened.

FMG...
Pre market trading.......8:30:01 AM18.550 100,000,000 $1,855,000,000.000CXA.
Lots of other trades before the above mentioned. Traders lost a lot of money on this one again

 

[TimeISmoney]

I wonder if there is another $1Billion of stock waiting to be dropped on the market ? There doesn't seem to have been many bargain hunters at the moment. How would other shareholders know ?

The dropping of these massive share blocks on the market highlights another point. What is the value of an institutions shareholding in a major company ? In theory it is the closing price of a stock on any particular day. However reality says that selling major blocks of shares will depress the market significantly. And of course it will also create uncertainty and undermine confidence in the stock.

I also wonder about the interaction of very negative analysis of FMG and the sale of these institutional blocks of shares ? Is it possible analysts had a whisper about the likely sell off ? Or were the institutions persuaded by the analysis and decided to drop their bundle ?

No one can see into the future that's obvious, but big Instos pulled out only weeks before the hydrogen failure was announced something stinks here, all the rest are most likely getting cold feet unless there's more bad news coming.

The China thing doesn't cut it here otherwise why aren't all the other IO miners dropping down in value like this?

 

[sptrawler]

unless there's more bad news coming.

That is the question, twiggy is a bit like Musk, leads with the lip and you never know what is going to come out.

They have now again become a one trick pony, so it depends a lot on iron ore, i think a lot of steam has come out of the renewable sector.

Companies like CXL, NMT, IGO and the whole nickel sector falling over, has put a damper on anything connected to the renewable green can dream, I was lucky Twiggy bought out MCR or I would have been burnt badly.

Money is starting to look for the exits IMO.
I must admit, I've cleaned out the bottom draw, last thing I want is a draw full of delisted headaches, been there done that.

 

[finicky]

It's over for iron ore and Fortescue

It’s over for iron ore. Shanghai steel futures are in free fall, well below seven-year support: Dalian is also breaking down: Coking coal: Scuttlebutt is terrible: Pessimism pervaded the Chinese iron ore market last week, with steelmakers and traders rushing to sell off rebar stocks ahead of the...

www.macrobusiness.com.au

 

[TimeISmoney]

That is the question, twiggy is a bit like Musk, leads with the lip and you never know what is going to come out.

They have now again become a one trick pony, so it depends a lot on iron ore, i think a lot of steam has come out of the renewable sector.

Companies like CXL, NMT, IGO and the whole nickel sector falling over, has put a damper on anything connected to the renewable green can dream, I was lucky Twiggy bought out MCR or I would have been burnt badly.

Money is starting to look for the exits IMO.
I must admit, I've cleaned out the bottom draw, last thing I want is a draw full of delisted headaches, been there done that.


View attachment 181696

The speculation about renewables projections was absurd, there were companies that never turned a profit in the whole time they were operating, and their SP increased by 2000% like Wildcat. Iron has been around for a while and the pricing system has been well established.

IO prices haven't really plunged to new lows and other mining companies that get most of their revenue from IO have barely budged, The shorts for FMG are unrealistically low which is another strange aspect.

Hydrogen manufacturing was put on hold, when you have the possibility of Trump and Dutton entering the arena for politics it's understandable, there's no point in making a substitute green fuel at a higher cost when no one will outlaw fossil fuels.

Even with the China residential building downturn they've ramped up production in another areas that use steel.