Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $28.84, but opened at $30.80. Fortescue shares last traded at $30.5950, with a volume of 2,239 shares.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research note on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold”.

Fortescue Trading Up 5.2%

The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43. The company’s 50-day moving average is $29.86 and its 200 day moving average is $27.57.

About Fortescue

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.