Fortescue (FMG): Loser

Submitted by Marco on 31 March, 2007 - 19:18

Fortescue FMG Stock Chart

Fortescue (FMG) was the worst performing shares on the among the shares listed on the ASX200 index (Loser of the Week for week 12 of 2007). The mining company lost 11.06 percent or $2.15 during the week to close at $20.19. The All Ordinaries closed the week at 5978.8 and the ASX200 index closed at 5995.

Fortescue Metal Limited is listed on the Australian Stock Exchange (ASX) under stock code FMG. You can view their investor website here. FMG was listed on the ASX on 19 March, 1987. The company's primary objective is to discover and develop iron ore deposits in the Pilbara region of Western Australia. Fortescue will establish large scale mining operations in conjunction with an open access port and rail network crucial for the delivery of iron ore to the markets of the world. Herb Elliott is the Chairman and Andrew Forest is the CEO for Fortescue Metal. Browse for Australian stockbroker recommendations. Check your charts and good luck with your share trading!