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

Fortescue (OTCMKTS:FSUGY) was upgraded by Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research report on Monday, February 16th. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Reduce”.

Fortescue Stock Down 0.3%

OTCMKTS:FSUGY opened at $31.39 on Tuesday. The stock has a 50-day simple moving average of $29.48 and a 200-day simple moving average of $29.20. Fortescue has a 1 year low of $18.56 and a 1 year high of $33.44.

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.