J.P. Morgan analyst Lyndon Fagan maintained a Hold rating on Fortescue Metals Group Ltd (FSUMF – Research Report) yesterday and set a price target of A$17.50. The company’s shares closed last Friday at $10.54.
According to TipRanks, Fagan is a 4-star analyst with an average return of 11.8% and a 62.79% success rate. Fagan covers the Basic Materials sector, focusing on stocks such as IGO, BHP Group Ltd, and Fortescue Metals Group Ltd.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Fortescue Metals Group Ltd with a $10.72 average price target.
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FSUMF market cap is currently $33.63B and has a P/E ratio of 5.23.
Based on the recent corporate insider activity of 7 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.
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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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