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FMG - Fortescue Ltd

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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
 
Yes FMG has a very bright future, and a share price that has rocketed over the past 3 years
 

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
 
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
 
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.
 
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.
 
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!
 
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!
Click to expand...

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

thx

MS
 
Trading Halt this morning Pending an announcement.

Must have something to do with the accumulation of shares and price rise last week.
 
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!....
 
Stop_the_clock said:
This baby has been flying of late
Click to expand...

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
 
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.
 
Is it only me following this?

Huge buyers on open.

Something in the pipeline its going up everyday.
 
I can tell you why it's shooting up now: because I took profit on it a few days ago : (and a good profit it was, but nothing like selling out to kick-start another run!).

Cheers,
GP
 
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
 
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.

http://news.ninemsn.com.au/article.aspx?id=253697
hopefully Jacob / Jake will weaken before it hits
 
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