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

JPMorgan Chase & Co. upgraded shares of Fortescue Metals Group (OTCMKTS:FSUGY) 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.

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

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.