In a report released today, Hayden Bairstow from Macquarie maintained a Sell rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$16.60. The company’s shares closed last Friday at $13.60.
According to TipRanks, Bairstow is an analyst with an average return of -1.0% and a 41.11% success rate. Bairstow covers the Basic Materials sector, focusing on stocks such as Northern Star Resources Ltd, Core Lithium Ltd, and Fortescue Metals Group Ltd.
Fortescue Metals Group Ltd has an analyst consensus of Moderate Sell, with a price target consensus of $11.53, representing a -15.22% downside. In a report released on October 12, RBC Capital also maintained a Sell rating on the stock with a A$17.00 price target.
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FSUMF market cap is currently $41.74B and has a P/E ratio of 8.72.
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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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