Business
FMG) share price could go higher
The Fortescue Metals Group Ltd (ASX: FMG) share price was amongst the worst-performing ASX 200 shares last week. Its underperformance was largely driven by going ex-dividend, paying out a market-leading $1.470 per share dividend. However, the iron ore spot price has remained relatively stable, around the US$170 per tonne level. At the time of writing, the shares are trading at $22.76, up 3.03%.
While the Fortescue share price might be taking a breather, big brokers think it could retest its old highs.
Big brokers rate the Fortescue share price as a buy
On 4th March, UBS had a Fortescue share price target of $25 with a buy rating. The broker notes that the Fortescue share price has yet to reflect the 10% year-to-date increase of…
-
Noosa News24 hours agoHow Lily Steele-Park took her rapist to court and won
-
Business17 hours agoWhy Vault Minerals, Droneshield, Westgold Resources shares are climbing higher today
-
General22 hours agoBrick portico a relic of ‘prestigious’ Horton College in northern midlands
-
Noosa News20 hours agoQueenslanders to continue legal challenges against COVID-19 directives after successful appeal