Fortescue (OTCMKTS:FSUGY) Shares Gap Down – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) gapped down before the market opened on Monday . The stock had previously closed at $30.50, but opened at $28.85. Fortescue shares last traded at $29.85, with a volume of 4,390 shares traded.

Analysts Set New Price Targets

Separately, Jefferies Financial Group lowered shares of Fortescue from a “hold” rating to an “underperform” rating in a research report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, Fortescue presently has an average rating of “Hold”.

Fortescue Stock Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84. The company has a 50-day simple moving average of $29.71 and a 200 day simple moving average of $26.93.

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.