Fortescue Metals Group Limited Stock Rating Reaffirmed by RBC Capital (FMG)
Fortescue Metals Group Limited (ASX:FMG) traded down 2.90% during mid-day trading on Thursday, hitting A$4.350. The stock had a trading volume of 7,340,500 shares. Fortescue Metals Group Limited has a one year low of A$3.910 and a one year high of A$6.220. The stock’s 50-day moving average is A$4.58 and its 200-day moving average is A$4.9. The company has a market cap of A$13.545 billion and a price-to-earnings ratio of 4.68.
A number of other firms have also recently commented on FMG. Analysts at Commonwealth Bank reiterated an “underweight” rating on shares of Fortescue Metals Group Limited in a research note on Thursday, July 31st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. Fortescue Metals Group Limited has an average rating of “Hold” and a consensus price target of A$6.00 ($5.61).
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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