Fortescue Metals Group Ltd (FSUMF): New Buy Recommendation for This Basic Materials Giant
Morgans analyst Adrian Prendergast upgraded Fortescue Metals Group Ltd (FSUMF – Research Report) to a Buy today and set a price target of A$18.80. The company's shares closed last Monday at $10.00.
Confident Investing Starts Here:
Prendergast covers the Energy sector, focusing on stocks such as Karoon Energy Ltd, Beach Energy , and Amplitude Energy. According to TipRanks, Prendergast has an average return of 12.0% and a 51.74% success rate on recommended stocks.
In addition to Morgans, Fortescue Metals Group Ltd also received a Buy from Morgan Stanley's Rahul Anand in a report issued on May 23. However, on the same day, UBS maintained a Hold rating on Fortescue Metals Group Ltd (Other OTC: FSUMF).
FSUMF market cap is currently $29.91B and has a P/E ratio of 7.89.
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.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Business Insider
an hour ago
- Business Insider
Morgan Stanley downgrades Dai-ichi Life Holdings (DCNSF) to a Hold
In a report released yesterday, Mia Nagasaka from Morgan Stanley downgraded Dai-ichi Life Holdings (DCNSF – Research Report) to a Hold, with a price target of Yen1,200.00. The company's shares closed last Tuesday at $7.50. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Nagasaka is a 2-star analyst with an average return of -0.5% and a 57.14% success rate. Nagasaka covers the Financial sector, focusing on stocks such as MS&AD Insurance Group Holdings, Chiba Bank, and Dai-ichi Life Holdings. The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Dai-ichi Life Holdings with a $8.90 average price target. The company has a one-year high of $8.66 and a one-year low of $5.52. Currently, Dai-ichi Life Holdings has an average volume of 361.
Business Insider
an hour ago
- Business Insider
Morgan Stanley Remains a Buy on Sompo Holdings (NHOLF)
In a report released yesterday, Mia Nagasaka from Morgan Stanley maintained a Buy rating on Sompo Holdings (NHOLF – Research Report), with a price target of Yen5,570.00. The company's shares closed last Friday at $33.00. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter Nagasaka covers the Financial sector, focusing on stocks such as MS&AD Insurance Group Holdings, Chiba Bank, and Dai-ichi Life Holdings. According to TipRanks, Nagasaka has an average return of -0.5% and a 57.14% success rate on recommended stocks. Sompo Holdings has an analyst consensus of Moderate Buy, with a price target consensus of $34.91.
Business Insider
an hour ago
- Business Insider
UBE Industries (UBEOF) Receives a Buy from Morgan Stanley
In a report released yesterday, Ryoichi Watanabe from Morgan Stanley maintained a Buy rating on UBE Industries (UBEOF – Research Report), with a price target of Yen3,400.00. The company's shares closed last Wednesday at $15.55. Confident Investing Starts Here: Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter According to TipRanks, Watanabe is an analyst with an average return of -12.7% and a 0.00% success rate. Watanabe covers the Basic Materials sector, focusing on stocks such as Daicel, Kureha, and Nippon Sanso Holdings Corporation. UBE Industries has an analyst consensus of Hold. Based on UBE Industries' latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $127.18 billion and a net profit of $14.3 billion. In comparison, last year the company earned a revenue of $135.29 billion and had a net profit of $9.04 billion
