In a report released on October 12, Kaan Peker from RBC Capital maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$17.00. The company’s shares closed yesterday at $13.60.
According to TipRanks, Peker is an analyst with an average return of -3.9% and a 36.84% success rate. Peker covers the Basic Materials sector, focusing on stocks such as Pilbara Minerals Limited, Fortescue Metals Group Ltd, and Mineral Resources Limited.
The word on The Street in general, suggests a Moderate Sell analyst consensus rating for Fortescue Metals Group Ltd with a $11.62 average price target, representing a -14.56% downside. In a report released on October 5, Citi also maintained a Sell rating on the stock with a A$18.90 price target.
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The company has a one-year high of $16.15 and a one-year low of $9.35. Currently, Fortescue Metals Group Ltd has an average volume of 4,850.
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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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