Fortescue (OTCMKTS:FSUGY) Downgraded by Zacks Research to “Strong Sell”

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

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

Fortescue Stock Down 3.0%

Shares of FSUGY opened at $25.99 on Thursday. The business’s fifty day moving average price is $29.25 and its two-hundred day moving average price is $27.88. Fortescue has a 52 week low of $16.41 and a 52 week high of $31.70. The company has a current ratio of 2.43, a quick ratio of 1.84 and a debt-to-equity ratio of 0.26.

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.