How has the Fortescue (ASX: FMG) share price evolved since the release of earnings?
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The Fortescue Metal Group Limited (ASX: FMG) The stock price fell sharply on Friday, ending the day down 11.48% to $ 15.27 per share.
The S & P / ASX 200 Index (ASX: XJO) also struggled, but not to the same extent, falling 0.76%.
The Fortescue share price came under pressure as iron prices fell another 8% overnight Thursday to US $ 107.21 (A $ 146.86) per tonne. That’s a far cry from the US $ 212 that the same ton of iron ore brought in on July 30.
With ASX 200 iron ore miners in the spotlight, below we review Fortescue’s strong results for the full year 2021 (FY21). And we take a look at how his actions have performed since the post was released.
What results for exercise 21 did the ASX 200 miner report?
Investors were watching Fortescue’s share price closely on August 30, the day the company released its FY21 results.
Among the main results that impressed analysts was revenues of US $ 12.8 billion. This was up 74% from the US $ 12.8 billion reported the previous year.
Earnings before interest, taxes, depreciation and amortization (EBITDA) were US $ 16.4 billion, up 96% from fiscal year 20. And net income after tax (NPAT) climbed 117% year-on-year to $ 10.3 billion.
The good results saw Fortescue declare a final dividend of $ 2.11 per share, fully franked. This brought the annual dividend to $ 3.58 per share, an increase of 103% from fiscal year 20.
Commenting on the past year and the year ahead, Elizabeth Gaines, CEO of Fortescue, said:
Through the Iron Bridge Magnetite Project and Fortescue Future Industries, we are investing in the growth of our iron ore operations, while pursuing ambitious global opportunities in renewable energy and green industries.
How has the Fortescue share price evolved since the publication of the report?
The good results delivered before the market opened on August 30 saw the Fortescue share price gain 6.6% on the day.
Although there have been a few days of rising since then, the trend has been largely downward, in line with falling iron ore prices. At the close of trading on Friday, the Fortescue share price was down 23.6% since publication.
In comparison, the ASX 200 is down 1.3% over the same period.