Shares in Fortescue Metals Group Limited (ASX: FMG) are up 2.6% today to sit at $5, but the iron ore production and exploration company has some work to get back to where it was this time last year.
Fortescue's assets are located in the Pilbara region of Western Australia.
Fortescue shares were priced above $7 in February 2017 but went through a volatile price period before a tumble late last year as iron ore prices faded out.
The price climbed back about 15% from a December low of $4.50 to a mid-January high of $5.30, as Citi analysts upgraded their forecast from neutral to buy, following reforms in supply and Chinese growth pushing commodity prices up.
Fortescue will hand down its half-year results on February 21, with the December quarterly production report released on January 30 indicating FY18 expectations are on target.
