Guys see summary below, it's a mixed bag (if not average)...

Guys see summary below, it's a mixed bag (if not average) quarterly according to its fundamentals.

Over the last 3 days MANY analysts have upgraded their coverage - BUT - the consensus is at current share price as their targets. There is no $7.00 target out there and the only way it can get that high are if the below numbers improve into the next quarter or this Vale thing has more to play out.

Who ever is buying now is minimal upside and a lot of downside, DYOR. 

Fortescue Sees FY C1 Cost Per Wmt at High End of Guidance

Fortescue revises its C1 cost per wmt forecast for the full year.

• Sees FY C1 cost per wmt high end of $12 to $13, saw $12 to $13
• 2Q iron ore shipments 42.5 million tons, estimate 42.6 million (Bloomberg News)
• 2Q capital expenditure $254 million vs. $240.0 million y/y
• 2Q C1 cost per wmt $13.02, estimate $12.59 (BN)
• 2Q ore mined 49.2 million tons vs. 47.5 million y/y
• 2Q average realized price per dry metric ton $48, estimate $48.30 (BN) (3 estimates)
• Still sees FY iron ore shipments 165 million to 173 million tons
• Still sees FY capital expenditure $1.2 billion
• Sees Second Half Shipments Higher Than First Half
• Higher volumes in the second half will contribute to lower C1 costs
• Second half shipments expected to be higher than the first half, inclusive of West Pilbara Fines production of 8-10 million tons
• FY19 average strip ratio seen at 1.5
• Sees FY19 depreciation and amortization of $7.10/wmt
• Drilling on targets prospective for copper-gold is expected to commence at Fortescue’s Santa concessions in Ecuador in the coming months once final approval is received under the Ecuadorian Government’s recently announced Scout Drilling reform