Net debt was pretty much flat over the quarter, improved by only $0.1B.
Gross debt actually worsened
While this was finance lease driven, FMG is further away from investment grade than it was a few months ago ( a function of lower profitability at lower prices for the same debt, also cash is not always credited in full against gross debt by the ratings agencies)
Paying a good dividend very difficult from here as that would further worsen credit metrics.
News: FMG Fortescue Metals Group says qtrly shipments of iron ore was 44.7 mln tonnes, page-28
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Last
$18.50 |
Change
-1.855(9.12%) |
Mkt cap ! $56.89B | |||
| Open | High | Low | Value | Volume |
| $18.59 | $18.68 | $18.40 | $322.1M | 17.35M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 32 | 14689 | $18.48 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.50 | 16210 | 44 |
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| Last trade - 13.52pm 30/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |