BUZZ-Fortescue slips in line with mining index; Bell Potter cuts PT on Iron Bridge delay

Reuters

2025/05/23

** Shares of Australian miner Fortescue FMG.AX fall 1.1% to A$15.71

** FMG's drop compared to 0.5% slip in broader mining index .AXMM

** Analysts at Bell Potter lower price target on FMG to A$15.87 from A$16.79 after co announces further delays to the ramp-up schedule at its major Iron Bridge project

** Retains "hold" rating

** FMG now expecting to reach name-plate capacity at project in FY28 compared to previous guidance of September 2025

** Brokerage sees impacts on revenues and earnings, and a reduced dividend yield forecast

** Also lowers earnings expectations by 7% and 17% for FY26 and FY27

(Reporting by Rishav Chatterjee in Bengaluru)

((Rishav.Chatterjee@thomsonreuters.com;))

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Bell Potter cuts PT on Iron Bridge delay** Shares of Australian miner Fortescue FMG.AX fall 1.1% to A$15.71** FMG's drop compared to 0.5% slip in broader mining index .AXMM** Analysts at Bell Potter lower price target on FMG to A$15.87 from A$16.79 after co announces further delays to the ramp-up schedule at its major Iron Bridge project** Retains \"hold\" rating** FMG now expecting to reach name-plate capacity at project in FY28 compared to previous guidance of September 2025** Brokerage sees impacts on revenues and earnings, and a reduced dividend yield forecast ** Also lowers earnings expectations by 7% and 17% for FY26 and FY27(Reporting by Rishav Chatterjee in Bengaluru)((Rishav.Chatterjee@thomsonreuters.com;))","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}