Fortescue (OTCMKTS:FSUGY) Shares Down 4% – Here’s Why
by Scott Moore · The Cerbat GemFortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report)’s stock price was down 4% during mid-day trading on Wednesday . The company traded as low as $27.17 and last traded at $27.18. Approximately 66,571 shares changed hands during trading, an increase of 19% from the average daily volume of 55,778 shares. The stock had previously closed at $28.32.
Analyst Ratings Changes
Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a report on Monday, February 16th. One equities research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Fortescue has an average rating of “Hold”.
Check Out Our Latest Stock Report on FSUGY
Fortescue Stock Performance
The stock’s fifty day moving average price is $29.33 and its 200 day moving average price is $27.88. The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26.
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.