RBC Capital Reiterates Outperform Rating for Fortescue Metals Group Limited (FMG)
Fortescue Metals Group Limited (ASX:FMG)‘s stock had its “outperform” rating restated by investment analysts at RBC Capital in a note issued to investors on Friday. They currently have a $6.00 target price on the stock.
Other equities research analysts have also recently issued reports about the stock. Analysts at Commonwealth Bank reiterated an “underweight” rating on shares of Fortescue Metals Group Limited in a research note on Thursday, July 31st. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of A$6.00 ($5.56).
Shares of Fortescue Metals Group Limited (ASX:FMG) traded up 0.72% on Friday, hitting A$4.170. 35,969,336 shares of the company’s stock traded hands. Fortescue Metals Group Limited has a 52-week low of A$3.910 and a 52-week high of A$6.220. The stock has a 50-day moving average of A$4.5 and a 200-day moving average of A$4.86. The company has a market cap of A$12.985 billion and a P/E ratio of 4.72.
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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