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

Jefferies Financial Group upgraded shares of Fortescue (OTCMKTS:FSUGY) from a moderate sell rating to a hold rating in a research report released on Thursday morning,Zacks.com reports.

Other research analysts have also issued reports about the company. The Goldman Sachs Group lowered Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target for the company. in a research report on Thursday, July 2nd. Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a 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 data from MarketBeat.com, the stock has an average rating of “Reduce” and an average price target of $16.90.

Fortescue Trading Down 1.2%

Shares of OTCMKTS FSUGY opened at $25.53 on Thursday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.28. Fortescue has a 52-week low of $24.08 and a 52-week high of $33.44. The business’s 50 day moving average is $26.19 and its two-hundred day moving average is $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.