– Sectors – Fortescue Metals Group (FMG-ASX)

September 20, 2024

Iron Ore Price Downside Risk + Pending CAPEX Step-Up = Keep us Cautious on N-Term Outlook/Fundamentals; SELL

By Gordon L. Johnson II

So, Where Do We Stand on Fortescue and How Did its FY24 Results Impact our Outlook? Our SELL rating on FMG has been predicated on our negative 2024E-25E outlook for iron ore prices, as well…

Fortescue Metals Group (FMG-ASX)

Iron Ore Price Downside Risk + Pending CAPEX Step-Up = Keep us Cautious on N-Term Outlook/Fundamentals; SELL

Are Iron Ore Bears in the Driver’s Seat & is “Mr. Market” Ignoring Signaling from China’s July Data?

Gearing Up for a Rocky Ride in Iron Ore, We Are Downgrading FMG to SELL Ahead of that Curve in 2H21

Is the Chinese Economy “Booming”, Suggesting the Bulk Commodity Price Reflation Trade has “Legs”?

We Believe the Mining Boom Is Just in the Second Inning of a Long Game, & FMG Is a Clear Beneficiary

China + Vale + the Fed = 3 Reasons to Be Bullish Iron Ore; After a Stellar Run, Upgrade FMG to HOLD

While Near-Term Support Is Likely for Iron Ore Prices, We Expect a Sharp Reversal to Emerge in 2Q20

Expected Drop in Iron Ore Prices + a Relative Disadvantage Pushes Us to Sell