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

Tipranks - Tipranks - Thu Feb 26, 3:16AM CST

RBC Capital analyst Kaan Peker maintained a Hold rating on Fortescue Metals Group Ltd yesterday and set a price target of A$23.00. The company’s shares closed yesterday at A$20.20.

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Peker covers the Basic Materials sector, focusing on stocks such as Rio Tinto Limited, IGO, and Sandfire Resources Limited. According to TipRanks, Peker has an average return of 18.4% and a 57.21% success rate on recommended stocks.

Fortescue Metals Group Ltd has an analyst consensus of Moderate Sell, with a price target consensus of A$20.56, representing a 1.76% upside. In a report released today, UBS also maintained a Hold rating on the stock with a A$20.00 price target.

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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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