Fortescue Metals traded at 22.60 this Friday May 15th, decreasing 0.39 or 1.70 percent since the previous trading session. Looking back, over the last four weeks, Fortescue Metals lost 7.72 percent. Over the last 12 months, its price rose by 32.94 percent. Looking ahead, we forecast Fortescue Metals to be priced at 22.17 by the end of this quarter and at 20.94 in one year, according to Trading Economics global macro models projections and analysts expectations.
Fortescue Metals Group Limited (Fortescue) is an Australia-based company engaged in iron ore mining. The Company is focused on exploration, development, production, processing, and sale of iron ore. Fortescue owns and operates a fully integrated infrastructure and supply chain, including five-berth Herb Elliott Port in Port Hedland; the Judith Street Harbour towage infrastructure and the heavy-haul railway covering 620 kilometers of track. The Company is also developing the Eliwana Mine and Rail Project and the Iron Bridge Magnetite Project. Its Chichester Hub in the Chichester Ranges includes the Cloudbreak and Christmas Creek mines. The Solomon Hub in the Hamersley Ranges is located 60 kilometers north of Tom Price and 120 kilometers to the west of its Chichester Hub. It includes the Firetail and Kings Valley mines, which together have a production capacity of 75 million tons per annum (mtpa). Its Iron Bridge project is located over 145 kilometers south of Port Hedland.