Fortescue (OTCMKTS:FSUGY) Shares Gap Down – What’s Next?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) gapped down prior to trading on Tuesday . The stock had previously closed at $30.29, but opened at $28.26. Fortescue shares last traded at $28.20, with a volume of 15,910 shares traded.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group reiterated an “underperform” rating on shares of Fortescue in a research report on Monday. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold”.

Fortescue Trading Down 7.1%

The company has a 50 day simple moving average of $30.04 and a 200-day simple moving average of $27.37. The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26.

About Fortescue

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.