Fortescue (OTCMKTS:FSUGY) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Fortescue (OTCMKTS:FSUGY) from a strong-buy rating to a hold rating in a report released on Wednesday morning,Zacks.com reports.

Separately, The Goldman Sachs Group downgraded Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target for the company. in a report on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, Fortescue has a consensus rating of “Reduce” and an average price target of $16.90.

Fortescue Stock Up 0.6%

Shares of Fortescue stock opened at $25.76 on Wednesday. Fortescue has a 52 week low of $23.86 and a 52 week high of $33.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.28. The business has a 50 day moving average price of $27.09 and a 200-day moving average price of $28.61.

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.