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RBC Capital Sticks to Their Hold Rating for Fortescue Metals Group Ltd (FSUMF)

Tipranks - Tipranks - Wed Apr 22, 8:58PM CDT

RBC Capital analyst Kaan Peker maintained a Hold rating on Fortescue Metals Group Ltd on April 20 and set a price target of A$22.00. The company’s shares closed last Friday at A$21.17.

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According to TipRanks, Peker is a 5-star analyst with an average return of 23.2% and a 59.13% success rate. Peker covers the Basic Materials sector, focusing on stocks such as IGO, PLS Group, and BHP Group Ltd.

Fortescue Metals Group Ltd has an analyst consensus of Hold, with a price target consensus of A$20.14, representing a -4.86% downside. In a report released on April 13, Morgans also maintained a Hold rating on the stock with a A$21.10 price target.

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The company has a one-year high of A$23.38 and a one-year low of A$14.31. Currently, Fortescue Metals Group Ltd has an average volume of 7.1M.

Based on the recent corporate insider activity of 11 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of FSUMF in relation to earlier this year.

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