Fortescue Metals Group (ASX:FMG) Shares Down 3.8%

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Shares of Fortescue Metals Group Limited (ASX:FMG) were down 3.8% during mid-day trading on Monday . The company traded as low as A$8.40 ($5.96) and last traded at A$8.47 ($6.01). Approximately 10,132,534 shares traded hands during trading, a decline of 35% from the average daily volume of 15,470,000 shares. The stock had previously closed at A$8.80 ($6.24).

The stock has a 50-day moving average of A$7.93. The firm has a market capitalization of $26.07 billion and a PE ratio of 31.37. The company has a current ratio of 1.36, a quick ratio of 0.89 and a debt-to-equity ratio of 40.04.

The firm also recently announced a Interim dividend, which was paid on Friday, June 14th. Investors of record on Friday, June 14th were given a dividend of $0.60 per share. This represents a yield of 7.37%. The ex-dividend date was Wednesday, May 22nd. This is an increase from Fortescue Metals Group’s previous Interim dividend of $0.30. Fortescue Metals Group’s dividend payout ratio is 114.81%.

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About Fortescue Metals Group (ASX:FMG)

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

Read More: Retained Earnings

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