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Fortescue Metals Group Ltd (FSUMF): New Sell Recommendation for This Basic Materials Giant

Morgan Stanley analyst Rahul Anand maintained a Sell rating on Fortescue Metals Group Ltd (FSUMFResearch Report) today and set a price target of A$15.15. The company’s shares closed yesterday at $12.01.

According to TipRanks, Anand is a 5-star analyst with an average return of 11.3% and a 49.73% success rate. Anand covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, Northern Star Resources Ltd, and BHP Group Ltd.

Currently, the analyst consensus on Fortescue Metals Group Ltd is a Moderate Sell with an average price target of $11.16.

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The company has a one-year high of $16.62 and a one-year low of $10.25. Currently, Fortescue Metals Group Ltd has an average volume of 4,666.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FSUMF in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Fortescue Metals Group Ltd. engages in the development of iron ore deposits. It operates through the China and Other geographical segments. Its projects include Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.

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