Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Sees Significant Decrease in Short Interest

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 45,013 shares, a decline of 63.0% from the June 30th total of 121,537 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily volume of 316,845 shares, the days-to-cover ratio is currently 0.1 days.

Analyst Ratings Changes

Several analysts have recently commented on FSUGY shares. The Goldman Sachs Group lowered shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target on the stock. in a research report on Thursday, July 2nd. Zacks Research upgraded Fortescue from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $16.90.

Fortescue Price Performance

OTCMKTS FSUGY opened at $26.20 on Wednesday. The company has a quick ratio of 2.28, a current ratio of 3.03 and a debt-to-equity ratio of 0.27. The stock has a 50-day moving average of $27.83 and a two-hundred day moving average of $28.83. Fortescue has a 1-year low of $22.50 and a 1-year high of $33.44.

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.