Fortescue Metals Group: Important questions go unanswered

About the author:

Adrian Prendergast
Author name:
By Adrian Prendergast
Job title:
Senior Analyst
Date posted:
29 August 2023, 9:00 AM
Sectors Covered:
Mining, Energy

  • Fortescue Metals Group (ASX:FMG) delivered an in-line FY23 result close to estimates.
  • Market call focused on other news, with FMG announcing a CEO change, sizeable impairment on Iron Bridge and removal of FFI spend at 10% of group NPAT.
  • We maintain a Reduce rating, with FMG trading ahead of our (login to view) target price.

Find out more

Download full research note

You can find further detailed analysis of company results this reporting season by browsing our reporting season tag, and view a full list of upcoming results on our Reporting Season Calendar.

If you would like more information, please contact your adviser or nearest Morgans office.

Request a call Find local branch

Disclaimer: The information contained in this report is provided to you by Morgans Financial Limited as general advice only, and is made without consideration of an individual's relevant personal circumstances. Morgans Financial Limited ABN 49 010 669 726, its related bodies corporate, directors and officers, employees, authorised representatives and agents (“Morgans”) do not accept any liability for any loss or damage arising from or in connection with any action taken or not taken on the basis of information contained in this report, or for any errors or omissions contained within. It is recommended that any persons who wish to act upon this report consult with their Morgans investment adviser before doing so.

  • Print this page
  • Copy Link