Fortescue Metals Group (OTCMKTS:FSUGY) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday.

According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “

Shares of Fortescue Metals Group (OTCMKTS FSUGY) traded up $0.11 during midday trading on Tuesday, reaching $7.14. The company’s stock had a trading volume of 33,740 shares, compared to its average volume of 42,847. Fortescue Metals Group has a 12-month low of $6.81 and a 12-month high of $11.12. The company has a quick ratio of 0.92, a current ratio of 1.18 and a debt-to-equity ratio of 0.45.

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About Fortescue Metals Group

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It owns and operates the Chichester Hub that consists of 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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