Fortescue Ltd (OTCMKTS:FSUMF – Get Free Report)’s stock price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $12.55 and traded as high as $12.96. Fortescue shares last traded at $12.92, with a volume of 6,336 shares trading hands.
Analyst Upgrades and Downgrades
Separately, Royal Bank Of Canada cut Fortescue to a “sector perform” rating in a research note on Tuesday, August 26th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of “Hold”.
Check Out Our Latest Analysis on Fortescue
Fortescue Stock Up 0.7%
Fortescue Company Profile
Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. 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, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia.
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