Fortescue (OTCMKTS:FSUGY) Stock Price Down 5.2% – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s stock price dropped 5.2% during trading on Wednesday . The company traded as low as $28.35 and last traded at $28.71. Approximately 1,895 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 36,026 shares. The stock had previously closed at $30.29.

Analyst Ratings Changes

Separately, Jefferies Financial Group restated an “underperform” rating on shares of Fortescue in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, Fortescue has a consensus rating of “Hold”.

Fortescue Trading Down 0.6%

The business has a 50-day simple moving average of $29.91 and a 200-day simple moving average of $27.46. 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.