Morgans Remains a Hold on Fortescue Metals Group Ltd (FSUMF)
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Prendergast covers the Energy sector, focusing on stocks such as Beach Energy , Santos Limited, and Empire Energy Group Limited. According to TipRanks, Prendergast has an average return of 11.4% and a 51.41% success rate on recommended stocks.
In addition to Morgans, Fortescue Metals Group Ltd also received a Hold from Macquarie's Jon Scholtz in a report issued on July 10. However, on July 8, RBC Capital maintained a Buy 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 $7.64 billion and a net profit of $1.55 billion. In comparison, last year the company earned a revenue of $9.51 billion and had a net profit of $3.34 billion
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.
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