Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares gapped up before the market opened on Wednesday . The stock had previously closed at $28.84, but opened at $30.80. Fortescue shares last traded at $30.5950, with a volume of 2,239 shares trading hands.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group reiterated an “underperform” rating on shares of Fortescue in a research note on Monday, February 16th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat.com, Fortescue presently has a consensus rating of “Hold”.

Fortescue Stock Performance

The company’s 50 day moving average price is $29.86 and its two-hundred day moving average price is $27.57. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43.

Fortescue Company Profile

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.