Business
How do brokers rate the Fortescue (ASX:FMG) share price?
The Fortescue Metals Group Limited (ASX: FMG) share price is down around 20% over the last month. What do brokers make of the value that the miner offers investors?
How has the Fortescue share price been going recently?
It has been a volatile period over the last few months for the large iron ore miner. At the start of December 2020 it was priced at $18.23. A few weeks later it had climbed 42% to $25.92 on 7 January 2021.
However, it has steadily sunk 25% since then.
Why has the Fortescue share price been falling?
Like any commodity-based business, Fortescue’s prospects are heavily linked to the movement of the iron ore price.
The iron ore price has been falling recently, it can’t be expected to stay strong forever.
There have…
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