Fortescue Metals Group (OTCMKTS:FSUGY) Upgraded by JPMorgan Chase & Co. to Overweight

JPMorgan Chase & Co. upgraded shares of Fortescue Metals Group (OTCMKTS:FSUGYFree Report) from a neutral rating to an overweight rating in a research note published on Wednesday, FlyOnTheWall reports.

Separately, Citigroup upgraded Fortescue Metals Group from a sell rating to a neutral rating in a research report on Thursday, June 8th.

Get Our Latest Stock Analysis on FSUGY

Fortescue Metals Group Stock Performance

FSUGY stock opened at $25.12 on Wednesday. Fortescue Metals Group has a 52-week low of $18.64 and a 52-week high of $32.50. The stock’s 50 day moving average is $28.06 and its two-hundred day moving average is $28.23.

Fortescue Metals Group Increases Dividend

The company also recently announced a dividend, which will be paid on Thursday, October 5th. Stockholders of record on Friday, September 8th will be given a $1.2738 dividend. This is a positive change from Fortescue Metals Group’s previous dividend of $1.01. The ex-dividend date of this dividend is Thursday, September 7th.

Fortescue Metals Group Company Profile

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Fortescue Metals Group Limited 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 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.

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