UBS Keeps Their Hold Rating on Fortescue Metals Group Ltd (FSUMF)

In a report released today, Lachlan Shaw from UBS maintained a Hold rating on Fortescue Metals Group Ltd (FSUMF – Research Report), with a price target of A$15.10. The company’s shares closed yesterday at $10.70.

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Shaw covers the Basic Materials sector, focusing on stocks such as Fortescue Metals Group Ltd, Mineral Resources Limited, and Pilbara Minerals . According to TipRanks, Shaw has an average return of 0.3% and a 51.94% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Fortescue Metals Group Ltd with a $11.15 average price target, which is a 4.21% upside from current levels. In a report released yesterday, Bell Potter also maintained a Hold rating on the stock with a A$15.87 price target.

FSUMF market cap is currently $31.94B and has a P/E ratio of 8.44.

Based on the recent corporate insider activity of 12 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.