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Fortescue Metals Group Limited (ASX:FMG)‘s stock had its “underweight” rating reiterated by equities researchers at Commonwealth Bank in a research report issued on Wednesday.

Shares of Fortescue Metals Group Limited (ASX:FMG) traded up 0.22% on Wednesday, hitting A$4.580. 16,326,001 shares of the company’s stock traded hands. Fortescue Metals Group Limited has a 52 week low of A$3.580 and a 52 week high of A$6.220. The stock has a 50-day moving average of A$4.42 and a 200-day moving average of A$4.99. The company has a market cap of A$14.261 billion and a price-to-earnings ratio of 4.78.

FMG has been the subject of a number of other recent research reports. Analysts at Morgan Stanley reiterated an “underweight” rating on shares of Fortescue Metals Group Limited in a research note on Tuesday, July 1st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of A$6.00 ($5.66).

Fortescue Metals Group Limited (ASX:FMG) is an iron ore producer and explorer operating in the Pilbara region of Western Australia.

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