Is the Fortescue share price a buy or a trap?
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The Fortescue Ltd (ASX: FMG) share price dropped 6% on the day of its result – it was a rough week for the ASX mining share. In the past 12 months the valuation has dropped by around a third. Ouch.
Miners like Fortescue have previously been good cyclical opportunities as the iron ore price rises and falls amid Chinese demand shifts. But, the FY25 half-year result included a lot of pain for Fortescue. Is this the worst of it for the company or is it a trap even at the current lower valuation?
Let’s look at what the iron ore miner reported, and then I’ll consider whether it’s appealing.
Earnings recap
Despite increasing its iron ore shipments by 3% to 97.1mt during the half-year period, the company’s revenue…
