Zacks Investment Research cut shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a strong-buy rating to a hold rating in a report released on Tuesday morning, Zacks.com reports.

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. “

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of FORTESCUE METAL/S from a buy rating to a hold rating in a report on Tuesday, August 6th. Goldman Sachs Group upgraded shares of FORTESCUE METAL/S from a neutral rating to a buy rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of $14.00.

OTCMKTS:FSUGY opened at $10.40 on Tuesday. FORTESCUE METAL/S has a one year low of $4.97 and a one year high of $13.28. The company has a market cap of $16.00 billion, a P/E ratio of 15.07 and a beta of 1.47. The firm’s fifty day moving average price is $11.56 and its two-hundred day moving average price is $10.66.

FORTESCUE METAL/S Company Profile

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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Analyst Recommendations for FORTESCUE METAL/S (OTCMKTS:FSUGY)

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