Fortescue (OTCMKTS:FSUGY) Cut to “Strong Sell” at Zacks Research

Zacks Research cut shares of Fortescue (OTCMKTS:FSUGY) from a hold rating to a strong sell rating in a report issued on Thursday,Zacks.com reports.

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research report on Monday, February 16th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Reduce”.

Fortescue Price Performance

Fortescue stock opened at $25.99 on Thursday. The company’s 50-day moving average price is $29.25 and its two-hundred day moving average price is $27.90. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84. Fortescue has a twelve month low of $16.41 and a twelve month high of $31.70.

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.