RBC Capital Sticks to Its Hold Rating for Fortescue Metals Group Ltd (FSUMF)
RBC Capital analyst Kaan Peker maintained a Hold rating on Fortescue Metals Group Ltd yesterday and set a price target of A$21.00.
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According to TipRanks, Peker is a 5-star analyst with an average return of 19.1% and a 56.44% success rate. Peker covers the Basic Materials sector, focusing on stocks such as IGO, Rio Tinto Limited, and Sandfire Resources Limited.
In addition to RBC Capital, Fortescue Metals Group Ltd also received a Hold from UBS’s Lachlan Shaw in a report issued on March 10. However, on February 26, Morgan Stanley maintained a Sell rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).
Based on Fortescue Metals Group Ltd’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of A$8.59 billion and a net profit of A$1.95 billion. In comparison, last year the company earned a revenue of A$7.64 billion and had a net profit of A$1.55 billion
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:
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- Fortescue Updates Dividend Reinvestment Plan Allocation Price for Interim Payout
- Fortescue Sets Dividend Reinvestment Plan Price at A$19.25 a Share
- Fortescue Director Mark Barnaba Boosts Direct Shareholding
- Fortescue Director Usha Rao-Monari Increases Personal Shareholding
- Fortescue director Larry Marshall lifts direct shareholding via on‑market trade
