Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Sees Large Decrease in Short Interest

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a large drop in short interest during the month of July. As of July 15th, there was short interest totaling 45,013 shares, a drop of 63.0% from the June 30th total of 121,537 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 316,845 shares, the days-to-cover ratio is presently 0.1 days.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FSUGY shares. The Goldman Sachs Group cut Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective for the company. in a research note on Thursday, July 2nd. Zacks Research upgraded shares of Fortescue from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $16.90.

Fortescue Stock Performance

Shares of FSUGY traded up $0.04 during mid-day trading on Tuesday, hitting $26.20. 102,704 shares of the company’s stock were exchanged, compared to its average volume of 67,330. Fortescue has a fifty-two week low of $22.50 and a fifty-two week high of $33.44. The business’s 50 day moving average is $27.93 and its two-hundred day moving average is $28.86. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.28.

Fortescue Company Profile

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.