Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Sees Large Growth in Short Interest

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) saw a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 86,791 shares, a growth of 92.8% from the July 15th total of 45,013 shares. Based on an average trading volume of 177,910 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the company’s shares are sold short.

Fortescue Price Performance

OTCMKTS FSUGY traded up $0.18 during trading hours on Monday, reaching $25.03. 51,255 shares of the company’s stock traded hands, compared to its average volume of 68,765. Fortescue has a 52-week low of $24.08 and a 52-week 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 firm has a 50-day simple moving average of $26.40 and a 200 day simple moving average of $28.42.

Analyst Ratings Changes

A number of research analysts have issued reports on FSUGY shares. Zacks Research downgraded shares of Fortescue from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group lowered Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target on the stock. in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, Fortescue currently has a consensus rating of “Reduce” and an average price target of $16.90.

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.