New Sell Rating for Fortescue Metals Group Ltd (FSUMF), the Basic Materials Giant
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$19.40.
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Anand covers the Basic Materials sector, focusing on stocks such as South32, Rio Tinto Limited, and Pilbara Minerals . According to TipRanks, Anand has an average return of 15.2% and a 58.75% success rate on recommended stocks.
In addition to Morgan Stanley, Fortescue Metals Group Ltd also received a Sell from Jarden’s Ben Lyons in a report issued on April 9. However, on April 13, Morgans maintained a Hold rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).
FSUMF market cap is currently A$62.35B and has a P/E ratio of 5.80.
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.
Read More on FSUMF:
Disclaimer & DisclosureReport an Issue
- Fortescue Issues New Tranche of Unquoted Performance Rights Under Staff Incentive Plan
- Fortescue Flags Conversion of Unquoted Equity Securities
- Fortescue Confirms Lapse of 79,471 Unvested Performance Rights
- Fortescue Fast-Tracks Industrial Green Grid to Cut Diesel and Costs
- Fortescue Director Boosts Shareholding via Dividend Reinvestment Plan
