Ord Minnett notes commodity prices have generally been less volatile so far in 2023. A weaker Australian dollar rate offsets lower iron ore prices, the broker assesses, and as a result a $15 target is maintained for Fortescue Metals. Lighten retained.

Sector: Materials.

Target price is $15.00.Current Price is $20.70. Difference: ($5.70) - (brackets indicate current price is over target). If FMG meets the Ord Minnett target it will return approximately -38% (excluding dividends, fees and charges - negative figures indicate an expected loss).

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