In a report released today, Rahul Anand from Morgan Stanley maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$16.30. The company’s shares closed last Tuesday at $13.67.
According to TipRanks, Anand is a 5-star analyst with an average return of 8.4% and a 50.83% success rate. Anand covers the Basic Materials sector, focusing on stocks such as BHP Group Ltd, Pilbara Minerals Limited, and Fortescue Metals Group Ltd.
In addition to Morgan Stanley, Fortescue Metals Group Ltd also received a Sell from UBS’s Lachlan Shaw in a report issued on September 7. However, on September 13, J.P. Morgan upgraded Fortescue Metals Group Ltd (Other OTC: FSUMF) to a Buy.
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FSUMF market cap is currently $42.11B and has a P/E ratio of 8.76.
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FSUMF in relation to earlier this year.
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Fortescue Metals Group Ltd (FSUMF) Company Description:
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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