Fortescue Metals Group Given Overweight Rating at Commonwealth Bank (FMG)
Fortescue Metals Group (ASX:FMG)‘s stock had its “overweight” rating reiterated by investment analysts at Commonwealth Bank in a note issued to investors on Monday, Analyst Ratings Network reports.
A number of other analysts have also recently weighed in on FMG. Analysts at JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Fortescue Metals Group in a research note to investors on Friday. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Fortescue Metals Group in a research note to investors on Sunday, October 6th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of A$4.85 ($4.57).
Fortescue Metals Group (ASX:FMG) traded up 4.33% on Monday, hitting A$5.185. The stock had a trading volume of 12,306,058 shares. 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$16.145 billion and a P/E ratio of 8.86.
Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.