Fortescue (OTCMKTS:FSUGY) Upgraded to Hold at Jefferies Financial Group

Fortescue (OTCMKTS:FSUGY) was upgraded by equities research analysts at Jefferies Financial Group from a “moderate sell” rating to a “hold” rating in a report issued on Thursday,Zacks.com reports.

Several other analysts have also recently weighed in on the stock. The Goldman Sachs Group cut shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective on the stock. in a research report on Thursday, July 2nd. Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Fortescue presently has an average rating of “Reduce” and an average target price of $16.90.

Fortescue Stock Performance

Shares of FSUGY opened at $25.53 on Thursday. Fortescue has a 12-month low of $24.08 and a 12-month high of $33.44. The company has a current ratio of 3.03, a quick ratio of 2.28 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average price of $26.19 and a 200-day moving average price of $28.28.

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.