Fortescue Metals Group Receives “Neutral” Rating from UBS AG (FMG)
Fortescue Metals Group (ASX:FMG)‘s stock had its “neutral” rating reaffirmed by investment analysts at UBS AG in a note issued to investors on Sunday, American Banking & Market News reports. They currently have a $5.60 price objective on the stock.
Several other analysts have also recently commented on the stock. Analysts at Commonwealth Bank reiterated an “overweight” rating on shares of Fortescue Metals Group in a research note to investors on Tuesday, October 22nd. Finally, 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. Four analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of A$4.95 ($4.76).
Fortescue Metals Group (ASX:FMG) traded up 3.84% during mid-day trading on Friday, hitting A$5.410. The stock had a trading volume of 7,471,910 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$16.846 billion and a price-to-earnings ratio of 9.29.
Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.
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