Fortescue Metals Group Limited (OTCMKTS:FSUMF – Get Rating) was the target of a significant increase in short interest in April. As of April 30th, there was short interest totalling 2,558,000 shares, an increase of 144.6% from the April 15th total of 1,045,800 shares. Based on an average trading volume of 21,800 shares, the short-interest ratio is presently 117.3 days.
Separately, UBS Group raised shares of Fortescue Metals Group to a “hold” rating and set a $17.10 price objective on the stock in a research report on Monday, March 28th.
Shares of FSUMF opened at $13.20 on Friday. The company’s 50 day moving average price is $14.66 and its 200 day moving average price is $13.85. Fortescue Metals Group has a 52 week low of $10.25 and a 52 week high of $19.55.
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It also explores for copper and gold deposits. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia.
- Get a free copy of the StockNews.com research report on Fortescue Metals Group (FSUMF)
- The Travel Sector Is Getting Upgraded
- Carvana Insiders Buy Shares But Maybe You Shouldn’t
- Dutch Bros Gets Scalded By Inflation
- The S&P 500 Could Fall Another 28%
- Corning Stock is a Technology Value Play
Receive News & Ratings for Fortescue Metals Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortescue Metals Group and related companies with MarketBeat.com's FREE daily email newsletter.