FORTESCUE METALS G ADR EA REPR 2 (FSUGY) Raised to Buy at Zacks Investment Research
FORTESCUE METALS G ADR EA REPR 2 (NASDAQ:FSUGY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday. The firm presently has a $8.75 target price on the stock. Zacks Investment Research’s price target indicates a potential upside of 10.62% from the company’s current price.
According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “
A number of other equities research analysts have also weighed in on the stock. Macquarie reaffirmed an “outperform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Sunday, July 31st. RBC Capital Markets reaffirmed a “sector perform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Monday, August 1st.
Shares of FORTESCUE METALS G ADR EA REPR 2 (NASDAQ:FSUGY) traded up 2.86% during midday trading on Tuesday, hitting $7.91. 7,200 shares of the stock were exchanged. The company has a market cap of $12.31 billion and a PE ratio of 12.52. FORTESCUE METALS G ADR EA REPR 2 has a 12-month low of $1.99 and a 12-month high of $7.91. The firm has a 50-day moving average price of $7.44 and a 200-day moving average price of $5.93.
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