Fortescue Metals Group Given “Overweight” Rating at Morgan Stanley (FMG)
Fortescue Metals Group (ASX:FMG)‘s stock had its “overweight” rating reaffirmed by investment analysts at Morgan Stanley in a note issued to investors on Sunday, Stock Ratings Network.com reports.
Shares of Fortescue Metals Group (ASX:FMG) opened at 4.790 on Friday. Fortescue Metals Group has a 52-week low of A$2.810 and a 52-week high of A$5.470. The stock’s 50-day moving average is A$3.37 and its 200-day moving average is A$3.90. The company has a market cap of A$14.915 billion and a P/E ratio of 8.50.
FMG has been the subject of a number of other recent research reports. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Fortescue Metals Group (ASX:FMG) in a research note to investors on Thursday. Finally, analysts at Goldman Sachs Group Inc. reiterated a “neutral” rating on shares of Fortescue Metals Group (ASX:FMG) in a research note to investors on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of A$4.85 ($4.53).
Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.
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