In a change of director's interest notice lodged on the ASX yesterday, it was revealed Forrest had acquired 3.95 million FMG shares for just over $15 million on-market last Friday.
The buy equates to an average purchase price of $3.79 per share, not far off the 27-month low of $3.53 reached in September.
It was the first purchase of FMG shares for Forrest since he spent $6.9 million on 1.32 million shares in November 2016.
The latest buy increases Forrest and his private entity, Minderoo Group's, stake in FMG from 32.46% to 33.87%.
"Fortescue is a strong and highly profitable business which is attractively valued at the current market price," Forrest said.
While FMG shares have rallied this week, its closing price of $4.11 yesterday is still we...