Maximize Your Portfolio with Data Driven Insights:
- Leverage the power of TipRanks' Smart Score, a data-driven tool to help you uncover top performing stocks and make informed investment decisions.
- Monitor your stock picks and compare them to top Wall Street Analysts' recommendations with Your Smart Portfolio
Fortescue Metals Group Ltd ( (AU:FMG) ) has shared an update.
Fortescue Metals Group Ltd, through its subsidiary FMG Pilbara Pty Ltd and associated entities, has increased its voting power in Red Hawk Mining Limited to 84.70% following an off-market takeover bid and additional share purchases. This strategic acquisition enhances Fortescue’s influence within the mining sector and solidifies its position by expanding its control over Red Hawk Mining Limited.
More about Fortescue Metals Group Ltd
Fortescue Metals Group Ltd is a leading company in the mining industry, primarily engaged in the production and export of iron ore. The company focuses on enhancing its operations in the Pilbara region of Western Australia and is a significant player in the global iron ore market.
YTD Price Performance: 3.46%
Average Trading Volume: 9,061
Technical Sentiment Consensus Rating: Buy
Current Market Cap: $38.05B
For a thorough assessment of FMG stock, go to TipRanks’ Stock Analysis page.
