Chinese take over of RIO

With all the talk of the Chinese possibly taking over the RIO Simandou iron ore project in Guinea, and the falling iron ore price, where do you see FMG?

A: Thanks for the question.

I, like most of the brokers, missed the huge run up in Fortescue (FMG). Where is it heading and where is iron ore going?
I will leave that for the analysts.
According to FN Arena, their consensus target price is $3.26, about 22% below the current share price. As a group, they are neutral – with a sentiment rating of +0.1 (range -1.0is most negative to +1.0 being the most positive).


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