FORTESCUE METAL/S (OTCMKTS:FSUGY) Downgraded by Zacks Investment Research

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Zacks Investment Research lowered shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a strong-buy rating to a hold rating in a research report released on Tuesday, Zacks.com reports.

According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “

FSUGY has been the subject of a number of other reports. Jefferies Financial Group cut shares of FORTESCUE METAL/S from a buy rating to a hold rating in a report on Tuesday, August 6th. Goldman Sachs Group upgraded shares of FORTESCUE METAL/S from a neutral rating to a buy rating in a report on Tuesday. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. FORTESCUE METAL/S presently has a consensus rating of Hold and an average target price of $14.00.

FSUGY stock opened at $10.11 on Tuesday. FORTESCUE METAL/S has a 52-week low of $4.97 and a 52-week high of $13.28. The company has a 50-day moving average of $11.60 and a two-hundred day moving average of $10.66. The stock has a market capitalization of $15.54 billion, a price-to-earnings ratio of 14.66 and a beta of 1.47.

About FORTESCUE METAL/S

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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Analyst Recommendations for FORTESCUE METAL/S (OTCMKTS:FSUGY)

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