Fortescue Metals Group Rating Reiterated by Commonwealth Bank (FMG)
Fortescue Metals Group (ASX:FMG)‘s stock had its “overweight” rating reiterated by research analysts at Commonwealth Bank in a report released on Tuesday, American Banking News.com reports.
Fortescue Metals Group (ASX:FMG) traded down 1.70% on Tuesday, hitting A$5.210. 50,000 shares of the company’s stock traded hands. Fortescue Metals Group has a 52-week low of A$2.810 and a 52-week high of A$5.470. The stock has a 50-day moving average of A$3.37 and a 200-day moving average of A$3.90. The company has a market cap of A$16.223 billion and a P/E ratio of 9.45.
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 in a research note to investors on Friday, October 11th. 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 analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Fortescue Metals Group presently has an average rating of “Buy” and a consensus price target of A$4.85 ($4.71).
Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.
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