Fortescue Metals Group Ltd FSUMF
Morningstar’s Analysis
1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
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Company Profile
Fortescue Metals Group is an Australia-based iron ore miner. It has grown from obscurity at the start of 2008 to become the world's fourth-largest producer. Growth was fuelled by debt, most of which has been repaid. Expansion from 55 million tonnes in fiscal 2012 to about 180 million tonnes in 2020 means Fortescue supplies nearly 10% of global seaborne iron ore. However, with longer-term demand likely to decline, as China's economy matures, we expect Fortescue's future margins to be below historical averages.
Perth, WA, 6004, Australia