Fortescue Metals Group Price Target Raised to $7.00 at JPMorgan Chase & Co. (FMG)
Equities research analysts at JPMorgan Chase & Co. upped their target price on shares of Fortescue Metals Group (ASX:FMG) from $6.95 to $7.00 in a research note issued to investors on Tuesday, Analyst Ratings.Net reports. The firm currently has an “overweight” rating on the stock.
Fortescue Metals Group (ASX:FMG) traded down 1.25% during mid-day trading on Tuesday, hitting A$5.905. The stock had a trading volume of 27,800,460 shares. Fortescue Metals Group has a one year low of A$0.000 and a one 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 has a market cap of A$18.387 billion and a P/E ratio of 10.66.
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 on Thursday, November 28th. Three investment 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 an average price target of A$5.54 ($5.03).
Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer.
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