Fortescue (OTCMKTS:FSUGY) Reaches New 12-Month Low – Here’s What Happened

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) reached a new 52-week low during mid-day trading on Tuesday. The company traded as low as $21.36 and last traded at $21.36, with a volume of 7,407 shares trading hands. The stock had previously closed at $21.95.

Analyst Ratings Changes

FSUGY has been the subject of a number of recent research reports. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. The Goldman Sachs Group lowered shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target for the company. in a research report on Thursday, July 2nd. Finally, Zacks Research cut shares of Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Sell” and an average price target of $16.90.

Fortescue Trading Down 2.7%

The company has a quick ratio of 1.76, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average price of $24.24 and a two-hundred day moving average price of $26.99.

About Fortescue

Fortescue is an Australian resources and energy company that produces and ships iron ore from operations in Western Australia’s Pilbara region. Its mining business includes integrated exploration, development, processing, rail, port and shipping activities, supplying iron ore to steelmakers in international markets, particularly across Asia.

The company is also developing renewable energy and low-emissions technologies through its Fortescue Energy business. Its activities include projects involving green hydrogen, green ammonia, renewable power and other technologies intended to support the decarbonization of heavy industry and transportation.

Founded in 2003, Fortescue was originally known as Fortescue Metals Group before adopting the Fortescue name.