Fortescue Metals Group Given New $7.00 Price Target at JPMorgan Chase & Co. (FMG)
Investment analysts at JPMorgan Chase & Co. lifted their target price on shares of Fortescue Metals Group (ASX:FMG) from $6.95 to $7.00 in a note issued to investors on Monday, AnalystRatingsNetwork reports. The firm currently has an “overweight” rating on the stock.
Shares of Fortescue Metals Group (ASX:FMG) traded up 0.36% on Monday, hitting A$5.610. The stock had a trading volume of 3,226,889 shares. Fortescue Metals Group has a 1-year low of A$2.870 and a 1-year high of A$5.930. The stock’s 50-day moving average is A$5.66 and its 200-day moving average is A$4.57. The company has a market cap of A$17.468 billion and a P/E ratio of 9.96.
A number of other analysts have also recently weighed in on FMG. 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 research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Fortescue Metals Group presently has a consensus rating of “Buy” and a consensus price target of A$5.54 ($4.94).
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.