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Fenix Resources Limited ( (AU:FEX) ) has issued an announcement.
Fenix Resources Limited announced record production for FY25, achieving 2.4 million tonnes of iron ore, a 64% increase from the previous year. The company successfully transitioned to a multi-mine operation, with the commissioning of the Shine and Beebyn-W11 mines, contributing to a targeted production rate of 4Mtpa. Despite a decline in iron ore prices, Fenix maintained strong cash flow and profitability, declaring a fully franked dividend of 1 cent per share. The company aims for further growth in FY26, targeting sales of 4.0 to 4.4 million tonnes at a competitive cash cost. This strategic expansion and financial resilience position Fenix as a robust player in the iron ore market, poised for future opportunities.
The most recent analyst rating on (AU:FEX) stock is a Buy with a A$0.40 price target. To see the full list of analyst forecasts on Fenix Resources Limited stock, see the AU:FEX Stock Forecast page.
More about Fenix Resources Limited
Fenix Resources Limited operates in the mining industry, focusing on the extraction and production of iron ore. The company has transitioned from a single-mine operation to a multi-mine producer, with its primary operations including the Iron Ridge, Shine, and Beebyn-W11 mines. Fenix Resources is positioned to produce up to 4 million tonnes per annum (Mtpa) of iron ore, with a focus on maintaining cost efficiency and strong financial performance.
Average Trading Volume: 1,047,389
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$234.4M
For an in-depth examination of FEX stock, go to TipRanks’ Overview page.