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Macquarie upgrades Fortescue Metals Group Ltd (FSUMF) to a Hold
Fortescue Metals Group Ltd received a Hold rating and a A$22.00 price target from Macquarie analyst Robert Stein today.
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Stein covers the Basic Materials sector, focusing on stocks such as BHP Group Ltd, Fortescue Metals Group Ltd, and IGO. According to TipRanks, Stein has an average return of 7.0% and a 56.42% success rate on recommended stocks.
In addition to Macquarie, Fortescue Metals Group Ltd also received a Hold from Bell Potter’s David Coates in a report issued on January 26. However, on February 5, Morgan Stanley maintained a Sell rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).
FSUMF market cap is currently A$65.33B and has a P/E ratio of 12.53.
Read More on FSUMF:
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- Fortescue Wins Alta Copper Shareholder Backing for Full Takeover of Peruvian Copper Project Owner
- Fortescue Wins Alta Copper Shareholder Backing for Full Takeover of Peru Project Owner
- Alta Copper issues update on Fortescue transaction
- Fortescue Delivers Record First-Half Shipments and Advances Decarbonisation and Copper Push
- Fortescue Issues 272,520 Unquoted Performance Rights Under Employee Incentive Scheme
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