Fortescue (OTCMKTS:FSUGY) Raised to “Hold” at Zacks Research

Fortescue (OTCMKTS:FSUGY) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Jefferies Financial Group reaffirmed an “underperform” rating on shares of Fortescue in a research note on Monday, February 16th. Two investment analysts have rated the stock with a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, Fortescue presently has a consensus rating of “Reduce”.

Fortescue Price Performance

Fortescue stock opened at $31.39 on Tuesday. The stock has a 50-day simple moving average of $29.48 and a 200-day simple moving average of $29.20. Fortescue has a fifty-two week low of $18.56 and a fifty-two week high of $33.44.

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.