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Research analysts at JPMorgan Chase & Co. upped their price objective on shares of Fortescue Metals Group (ASX:FMG) from $6.95 to $7.00 in a report released on Sunday, American Banking and Market News reports. The firm currently has an “overweight” rating on the stock.

Fortescue Metals Group (ASX:FMG) traded up 1.91% on Friday, hitting A$5.330. The stock had a trading volume of 20,923,552 shares. Fortescue Metals Group has a 1-year low of A$0.000 and a 1-year high of A$0.000. The stock has a 50-day moving average of A$0.0 and a 200-day moving average of A$0.0. The company’s market cap is A$16.597 billion.

Several other analysts have also recently commented on the stock. Analysts at Bell Potter reiterated a “buy” rating on shares of Fortescue Metals Group in a research note to investors on Thursday, November 28th. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of A$5.54 ($4.81).

Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.

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