Fortescue (OTCMKTS:FSUGY) Sets New 1-Year High – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $30.9396 and last traded at $30.53, with a volume of 23975 shares trading hands. The stock had previously closed at $30.43.

Analyst Ratings Changes

Separately, Jefferies Financial Group cut shares of Fortescue from a “hold” rating to an “underperform” rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Fortescue has a consensus rating of “Hold”.

Fortescue Price Performance

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 firm has a 50 day moving average price of $28.69 and a two-hundred day moving average price of $26.05.

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.