Fortescue (OTCMKTS:FSUGY) Rating Increased to Hold at Zacks Research

Zacks Research upgraded shares of Fortescue (OTCMKTS:FSUGY) from a strong sell rating to a hold rating in a report published on Tuesday,Zacks.com reports.

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research note on Monday, February 16th. Two analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Reduce”.

Fortescue Stock Down 0.3%

Fortescue stock opened at $31.39 on Tuesday. Fortescue has a 12-month low of $18.56 and a 12-month high of $33.44. The firm’s fifty day moving average price is $29.48 and its 200 day moving average price is $29.20.

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.