Fortescue's Year-to-Date Production Tracking Low End of Guidance, Says Jarden Research

MT Newswires Live

Apr 30, 2025

Fortescue (ASX:FMG) year-to-date production of 143 million tonnes gross is tracking the low end of guidance, said Jarden Research in a Wednesday note.

The company on Tuesday said it made total iron ore shipments of 46.1 million tonnes during the third fiscal quarter, rising 6% from the year-ago quarter's iron ore shipments of 43.3 million tonnes, while it maintained its 2025 guidance of 190 million wet metric tonnes to 200 million wmt of iron ore shipments.

The research firm has cut its forecast to 195.9 million wmt from a previous forecast of 198.2 million wmt.

However, Jarden noted that the company posted a "good result" despite a cyclone season.

Jarden has maintained Foretscue's neutral rating and has reduced the target price to AU$16.49 from AU$16.91.

The company's shares fell nearly 2% in recent Wednesday trade.

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