Fortescue (OTCMKTS:FSUGY) Rating Lowered to “Hold” at Zacks Research

Fortescue (OTCMKTS:FSUGY) was downgraded by analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, The Goldman Sachs Group downgraded shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective on the stock. in a report on Thursday, July 2nd. Two research analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and an average price target of $16.90.

Fortescue Stock Performance

Shares of FSUGY opened at $25.76 on Wednesday. The business has a 50-day moving average of $27.09 and a 200 day moving average of $28.61. Fortescue has a fifty-two week low of $23.86 and a fifty-two week high of $33.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.28.

Fortescue Company Profile

Fortescue (OTCMKTS:FSUGY) is the U.S. over?the?counter ticker for Fortescue Metals Group, an Australian company principally engaged in the exploration, mining, processing and sale of iron ore. Since its founding in 2003, the company has developed large?scale open?pit operations in the Pilbara region of Western Australia and built integrated infrastructure — including rail and port facilities — to move bulk shipments of iron ore to international steelmakers.

Fortescue’s core products are iron ore lump and fines, which it markets to customers around the world, with strong trade links to Asian steel producers.