Fortescue Metals Group Rating Reiterated by Nomura (FMG)
FMG has been the subject of a number of other recent research reports. Analysts at RBC Capital reiterated an “outperform” rating on shares of Fortescue Metals Group in a research note to investors on Wednesday, February 20th. They now have a $5.41 price target on the stock. Separately, analysts at BBY Limited upgraded shares of Fortescue Metals Group to a “buy” rating in a research note to investors on Friday, January 25th. They now have a $5.21 price target on the stock. Finally, analysts at JPMorgan Chase reiterated a “neutral” rating on shares of Fortescue Metals Group in a research note to investors on Tuesday, January 15th. They now have a $5.00 price target on the stock.
Shares of Fortescue Metals Group traded down 2.95% during mid-day trading on Tuesday, hitting A$4.610. Fortescue Metals Group has a 52 week low of A$2.810 and a 52 week high of A$6.180. The stock’s 50-day moving average is currently A$3.56. The company has a market cap of A$14.355 billion and a P/E ratio of 9.48.
Fortescue Metals Group Limited (Fortescue) is an iron ore producer and explorer. Fortescue is engaged in mining of iron ore from its Cloudbreak and Christmas Creek mine sites, the operation of an integrated mine, rail and port supply chain and the expansion of iron ore operations.
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