In a report released on July 27, Paul Young from Goldman Sachs maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$14.50. The company’s shares closed last Friday at $14.65.
According to TipRanks, Young is a 5-star analyst with an average return of 15.0% and a 67.88% success rate. Young covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, Iluka Resources Limited, and BHP Group Ltd.
In addition to Goldman Sachs, Fortescue Metals Group Ltd also received a Sell from UBS’s Lachlan Shaw in a report issued today. However, on July 27, Citi maintained a Hold rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).
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FSUMF market cap is currently $44.36B and has a P/E ratio of 7.79.
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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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