Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report) was the recipient of a large decrease in short interest during the month of October. As of October 30th, there was short interest totaling 3,306 shares, a decrease of 86.8% from the October 15th total of 25,103 shares. Approximately 0.0% of the shares of the stock are sold short. Based on an average trading volume of 366,192 shares, the days-to-cover ratio is presently 0.0 days.
Analyst Ratings Changes
Several brokerages recently weighed in on FSUGY. Zacks Research cut shares of Fortescue from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 8th. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. One analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Fortescue presently has an average rating of “Sell” and an average price target of $16.90.
Check Out Our Latest Stock Analysis on Fortescue
Fortescue Stock Down 3.3%
Shares of OTCMKTS:FSUGY opened at $20.29 on Friday. The company has a current ratio of 2.32, a quick ratio of 1.76 and a debt-to-equity ratio of 0.27. Fortescue has a 12 month low of $19.66 and a 12 month high of $33.44. The firm’s 50-day moving average is $22.12 and its 200 day moving average is $26.64.
Fortescue Company Profile
Fortescue is an Australian resources company best known for producing and exporting iron ore. Founded in 2003, the company operates mines, processing facilities, railways and port infrastructure in Western Australia’s Pilbara region. Its iron ore products are shipped to customers in international markets, particularly in Asia. Alongside its metals business, Fortescue is developing energy projects focused on renewable power, green hydrogen and related products such as green ammonia. The company has also outlined plans to reduce emissions from its operations and support the broader transition to lower-emissions energy.
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