Owning Fortescue Ltd (ASX: FMG) shares has been extremely fruitful for dividend income over the last several years, thanks to the high level of profits it achieved and the low price/earnings (P/E) ratio it typically trades at. The ASX mining share is heavily dependent on the iron ore price, which is currently above US$100 per tonne, enabling a solid level of profit generation for the business. Indeed, the commodity price is pleasing enough for broker UBS to estimate that Fortescue could achieve a net profit of US$4 billion in FY26, representing a solid increase from FY25. While the new Simandou…
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July 7, 2025
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Source: afr.com
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Source: fool.com.au