Fortescue (OTCMKTS:FSUGY) Stock Rating Upgraded by Zacks Research

Fortescue (OTCMKTS:FSUGY) was upgraded by analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a report issued on Tuesday,Zacks.com reports.

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research report on Monday, February 16th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, Fortescue has a consensus rating of “Reduce”.

Fortescue Stock Down 0.3%

Shares of Fortescue stock opened at $31.39 on Tuesday. The stock’s fifty day moving average is $29.48 and its 200-day moving average is $29.20. Fortescue has a 12-month low of $18.56 and a 12-month high of $33.44.

Fortescue Company Profile

Fortescue (OTCMKTS:FSUGY) is the U.S. over‑the‑counter ticker for Fortescue Metals Group, an Australian company principally engaged in the exploration, mining, processing and sale of iron ore. Since its founding in 2003, the company has developed large‑scale open‑pit operations in the Pilbara region of Western Australia and built integrated infrastructure — including rail and port facilities — to move bulk shipments of iron ore to international steelmakers.

Fortescue’s core products are iron ore lump and fines, which it markets to customers around the world, with strong trade links to Asian steel producers.