In a report released today, Lachlan Shaw from UBS maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$15.20. The company’s shares closed yesterday at $12.70.
According to TipRanks, Shaw is a 3-star analyst with an average return of 4.7% and a 60.81% success rate. Shaw covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Mineral Resources Limited, and Rio Tinto Limited.
Currently, the analyst consensus on Fortescue Metals Group Ltd is a Moderate Sell with an average price target of $11.22, a -11.65% downside from current levels. In a report released on August 29, 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 $39.24B and has a P/E ratio of 8.74.
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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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