The stock of Fortescue Metals Group Limited (ASX:FMG) is a huge mover today! The stock increased 6.81% or $0.39 on November 22, hitting $6.12. About 25.11M shares traded hands or 31.81% up from the average. Fortescue Metals Group Limited (ASX:FMG) has risen 94.29% since April 26, 2016 and is uptrending. It has outperformed by 89.73% the S&P500.
The move comes after 6 months positive chart setup for the $19.06B company. It was reported on Nov, 22 by Barchart.com. We have $6.30 PT which if reached, will make ASX:FMG worth $571.80M more.
More notable recent Fortescue Metals Group Limited (ASX:FMG) news were published by: Fool.com.Au which released: “Should you sell your Fortescue Metals Group Limited shares?” on September 20, 2016, also Fool.com.Au with their article: “Is Fortescue Metals Group Limited a $6 stock?” published on September 20, 2016, Fool.com.Au published: “Fortescue Metals Group Limited triples net profit, is it a buy?” on August 22, 2016. More interesting news about Fortescue Metals Group Limited (ASX:FMG) were released by: Fool.com.Au and their article: “Why I’m avoiding Fortescue Metals Group Limited” published on October 03, 2016 as well as Fool.com.Au‘s news article titled: “Should you buy Fortescue Metals Group Limited after its latest acquisition?” with publication date: October 10, 2016.
Fortescue Metals Group Limited is engaged in the exploration, development, production, processing and sale of iron ore. The company has a market cap of $19.06 billion. It owns and operates an integrated supply chain, including its approximately five berth Herb Elliott Port in Port Hedland and the heavy haul railway with approximately 42 ton axle load capacity over 620 kilometers of track. It has a 14.36 P/E ratio. The Company’s activities span over four mine sites in the Pilbara.
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