Fortescue (OTCMKTS:FSUGY) Hits New 12-Month High – Still a Buy?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $30.9396 and last traded at $30.53, with a volume of 23975 shares. The stock had previously closed at $30.43.

Analyst Upgrades and Downgrades

Separately, Jefferies Financial Group lowered shares of Fortescue from a “hold” rating to an “underperform” rating in a report on Monday, January 12th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold”.

Fortescue Stock Performance

The company’s fifty day simple moving average is $28.85 and its two-hundred day simple moving average is $26.15. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43.

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.