Analysts are pulling back from the Materials sector as 2 experts expressed today bearish sentiments on Fortescue Metals Group Ltd (FSUMF – Research Report) and Regis Resources Limited (RGRNF – Research Report).
Fortescue Metals Group Ltd (FSUMF)
In a report released today, Lachlan Shaw from UBS maintained a Sell rating on Fortescue Metals Group Ltd, with a price target of A$22.30. The company’s shares closed last Friday at $16.76.
According to TipRanks.com, Shaw is ranked #5749 out of 8802 analysts.
The word on The Street in general, suggests a Strong Sell analyst consensus rating for Fortescue Metals Group Ltd with a $13.17 average price target, representing a -20.9% downside. In a report issued on April 15, RBC Capital also maintained a Sell rating on the stock with a A$23.00 price target.
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Regis Resources Limited (RGRNF)
Regis Resources Limited received a Sell rating and a A$1.80 price target from UBS analyst Levi Spry today. The company’s shares closed last Friday at $1.43.
According to TipRanks.com, Spry is a 3-star analyst with an average return of
Regis Resources Limited has an analyst consensus of Moderate Buy, with a price target consensus of $1.41, implying a -1.4% downside from current levels. In a report issued on April 26, Citi also maintained a Sell rating on the stock with a A$1.30 price target.
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Read More on FSUMF:
- Australian Stocks: Fortescue (FMG) Sees Drop in Iron Ore Shipments After Derailment
- Fortescue Metals Achieves Record Shipping Recovery
- Fortescue Announces Cessation of Securities
- Australian Stocks: Analysts Remain Bearish on Fortescue (FMG) Despite a High Dividend Yield
- Fortescue Director’s Shareholdings Increase
