Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Expands By 83.0%

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 101,400 shares, an increase of 83.0% from the September 30th total of 55,400 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average trading volume of 76,800 shares, the short-interest ratio is presently 1.3 days. Based on an average trading volume of 76,800 shares, the short-interest ratio is presently 1.3 days. Approximately 0.0% of the shares of the company are sold short.

Fortescue Trading Down 1.0%

Shares of OTCMKTS:FSUGY opened at $27.92 on Friday. Fortescue has a fifty-two week low of $16.41 and a fifty-two week high of $28.31. The firm’s 50-day simple moving average is $25.58 and its 200-day simple moving average is $22.96. The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26.

Fortescue Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Royal Bank Of Canada downgraded shares of Fortescue from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, August 26th. Macquarie cut shares of Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, July 24th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Fortescue currently has a consensus rating of “Hold”.

About Fortescue

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.