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New Sell Rating for Fortescue Metals Group Ltd (FSUMF), the Basic Materials Giant

Tipranks - Tipranks - Fri Jan 23, 5:52PM CST

In a report released today, Rahul Anand from Morgan Stanley maintained a Sell rating on Fortescue Metals Group Ltd, with a price target of A$19.75.

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Anand covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, BHP Group Ltd, and South32. According to TipRanks, Anand has an average return of 13.3% and a 57.93% success rate on recommended stocks.

In addition to Morgan Stanley, Fortescue Metals Group Ltd also received a Sell from Macquarie’s Robert Stein in a report issued today. However, on the same day, TipRanks – OpenAI reiterated a Buy rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).

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Based on Fortescue Metals Group Ltd’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of A$8.19 billion and a net profit of A$1.89 billion. In comparison, last year the company earned a revenue of A$8.71 billion and had a net profit of A$2.35 billion

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