FORTESCUE METAL/S (OTCMKTS:FSUGY) Lifted to “Buy” at Goldman Sachs Group
Goldman Sachs Group upgraded shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a neutral rating to a buy rating in a report issued on Tuesday morning, The Fly reports.
A number of other brokerages also recently weighed in on FSUGY. Jefferies Financial Group downgraded shares of FORTESCUE METAL/S from a buy rating to a hold rating in a report on Tuesday, August 6th. Zacks Investment Research raised shares of FORTESCUE METAL/S from a hold rating to a strong-buy rating and set a $14.00 price target for the company in a report on Monday, June 17th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $14.00.
Shares of FORTESCUE METAL/S stock opened at $10.40 on Tuesday. FORTESCUE METAL/S has a fifty-two week low of $4.97 and a fifty-two week high of $13.28. The firm has a fifty day moving average price of $11.56 and a two-hundred day moving average price of $10.66. The company has a market cap of $16.00 billion, a PE ratio of 15.07 and a beta of 1.47.
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.
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