Fortescue (OTCMKTS:FSUGY) Sets New 12-Month High – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $31.70 and last traded at $31.52, with a volume of 70583 shares traded. The stock had previously closed at $31.20.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Zacks Research downgraded Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, March 19th. Jefferies Financial Group reiterated an “underperform” rating on shares of Fortescue in a report on Monday, February 16th. One research analyst has rated the stock with a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Strong Sell”.

Fortescue Stock Up 1.0%

The company has a fifty day simple moving average of $28.68 and a two-hundred day simple moving average of $28.82.

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.