Fortescue (OTCMKTS:FSUGY) Reaches New 1-Year Low – What’s Next?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares reached a new 52-week low on Wednesday. The stock traded as low as $19.66 and last traded at $19.9750, with a volume of 5,258 shares changing hands. The stock had previously closed at $20.0405.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FSUGY. Jefferies Financial Group upgraded shares of Fortescue from a “moderate sell” rating to a “hold” rating in a report on Thursday, August 20th. Zacks Research downgraded Fortescue from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Sell” and an average price target of $16.90.

Fortescue Trading Down 0.9%

The company has a debt-to-equity ratio of 0.27, a quick ratio of 1.76 and a current ratio of 2.32. The firm has a 50 day simple moving average of $22.55 and a two-hundred day simple moving average of $26.86.

Fortescue Company Profile

Fortescue is an Australian metals and energy company headquartered in Perth, Western Australia. Founded in 2003, the company is best known for its iron ore operations in the Pilbara region of Western Australia, where it develops and operates mines, processing facilities, rail infrastructure and port facilities.

Fortescue produces and exports iron ore products to customers in international markets, particularly in Asia. Its integrated Pilbara operations include mining and processing assets connected by a privately owned railway network to port facilities at Port Hedland.

Through its Fortescue Energy business, the company is also developing renewable energy, green hydrogen and green ammonia projects, as well as technologies intended to reduce emissions from heavy industry and mining.