Zacks Investment Research lowered shares of Fortescue Metals G (NASDAQ:FSUGY) from a buy rating to a hold rating in a research note released on Tuesday morning.

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. “

Fortescue Metals G (NASDAQ FSUGY) traded up 0.67% during trading on Tuesday, hitting $9.49. 14,252 shares of the stock traded hands. The stock has a market cap of $14.76 billion and a PE ratio of 7.08. The company has a 50-day moving average price of $8.75 and a 200-day moving average price of $8.63. Fortescue Metals G has a 12 month low of $6.83 and a 12 month high of $11.12.

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