Macquarie analyst Hayden Bairstow maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report) today and set a price target of A$16.40. The company’s shares closed yesterday at $13.05.
Bairstow covers the Basic Materials sector, focusing on stocks such as Sayona Mining, Mount Gibson Iron Limited, and Piedmont Lithium. According to TipRanks, Bairstow has an average return of 3.1% and a 44.87% success rate on recommended stocks.
Fortescue Metals Group Ltd has an analyst consensus of Moderate Sell, with a price target consensus of $11.34, a -13.10% downside from current levels. In a report released today, Citi also maintained a Sell rating on the stock with a A$18.20 price target.
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FSUMF market cap is currently $41.4B and has a P/E ratio of 7.12.
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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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