Fortescue (OTCMKTS:FSUGY) Sets New 1-Year Low – What’s Next?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) reached a new 52-week low during mid-day trading on Thursday. The company traded as low as $19.71 and last traded at $20.60, with a volume of 1,240 shares changing hands. The stock had previously closed at $21.53.

Analyst Upgrades and Downgrades

FSUGY has been the topic of several recent research reports. The Goldman Sachs Group cut shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price on the stock. in a report on Thursday, July 2nd. Zacks Research downgraded shares of Fortescue from a “hold” rating to a “strong sell” rating in a research report on Thursday, October 8th. Finally, Jefferies Financial Group upgraded Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Sell” and a consensus price target of $16.90.

Fortescue Trading Down 4.1%

The company has a debt-to-equity ratio of 0.27, a current ratio of 2.32 and a quick ratio of 1.76. The stock has a 50-day moving average of $23.64 and a 200 day moving average of $26.65.

Fortescue Company Profile

Fortescue is an Australian metals and energy company headquartered in Perth, Western Australia. Founded in 2003, the company is best known for its iron ore operations in the Pilbara region of Western Australia, where it develops and operates mines, processing facilities, rail infrastructure and port facilities.

Fortescue produces and exports iron ore products to customers in international markets, particularly in Asia. Its integrated Pilbara operations include mining and processing assets connected by a privately owned railway network to port facilities at Port Hedland.

Through its Fortescue Energy business, the company is also developing renewable energy, green hydrogen and green ammonia projects, as well as technologies intended to reduce emissions from heavy industry and mining.