Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Should You Buy?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) gapped up before the market opened on Tuesday . The stock had previously closed at $26.47, but opened at $27.50. Fortescue shares last traded at $27.2950, with a volume of 12,856 shares traded.

Analysts Set New Price Targets

Separately, Royal Bank Of Canada downgraded Fortescue from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 26th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold”.

Fortescue Trading Up 2.2%

The company has a current ratio of 2.43, a quick ratio of 1.84 and a debt-to-equity ratio of 0.26. The stock has a 50-day simple moving average of $26.12 and a 200 day simple moving average of $23.77.

Fortescue Announces Dividend

The firm also recently announced a dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 8th were issued a dividend of $0.758 per share. This represents a yield of 555.0%. The ex-dividend date was Friday, September 5th.

Fortescue Company Profile

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.