Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Increases By 92.8%

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 86,791 shares, an increase of 92.8% from the July 15th total of 45,013 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 177,910 shares, the days-to-cover ratio is currently 0.5 days.

Fortescue Stock Performance

Shares of FSUGY stock opened at $24.98 on Tuesday. The company’s fifty day simple moving average is $26.33 and its two-hundred day simple moving average is $28.38. 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 has a 1 year low of $24.08 and a 1 year high of $33.44.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. The Goldman Sachs Group cut Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective on the stock. in a research note 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. According to data from MarketBeat.com, Fortescue currently has a consensus rating of “Reduce” and a consensus target price of $16.90.

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.