FORTESCUE METAL/S (OTCMKTS:FSUGY) Downgraded to “Strong Sell” at Zacks Investment Research
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. “
Several other analysts also recently weighed in on FSUGY. UBS Group upgraded FORTESCUE METAL/S from a “sell” rating to a “neutral” rating in a report on Thursday, August 15th. Jefferies Financial Group cut shares of FORTESCUE METAL/S from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Goldman Sachs Group raised shares of FORTESCUE METAL/S from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $14.00.
About FORTESCUE METAL/S
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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