Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Short Interest Update

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a large drop in short interest in the month of August. As of August 14th, there was short interest totaling 25,135 shares, a drop of 71.0% from the July 30th total of 86,791 shares. Based on an average daily trading volume, of 138,145 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.0% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on FSUGY shares. Zacks Research downgraded shares of Fortescue from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group downgraded shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective for the company. in a research report on Thursday, July 2nd. Two research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of $16.90.

Fortescue Stock Performance

Fortescue stock traded up $0.38 during midday trading on Thursday, reaching $25.40. The company’s stock had a trading volume of 19,364 shares, compared to its average volume of 69,507. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.28 and a current ratio of 3.03. Fortescue has a 52 week low of $24.08 and a 52 week high of $33.44. The business has a 50-day moving average price of $25.93 and a 200-day moving average price of $28.16.

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.