Fortescue (OTCMKTS:FSUGY) Shares Gap Down – What’s Next?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s stock price gapped down prior to trading on Friday . The stock had previously closed at $26.90, but opened at $25.35. Fortescue shares last traded at $26.00, with a volume of 3,368 shares changing hands.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the company. Macquarie downgraded Fortescue from a “hold” rating to a “strong sell” rating in a research report on Thursday, July 24th. Royal Bank Of Canada downgraded Fortescue from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold”.

Fortescue Trading Down 2.2%

The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26. The business has a fifty day simple moving average of $25.97 and a 200 day simple moving average of $23.57.

Fortescue Dividend Announcement

The firm also recently declared a dividend, which was paid on Friday, October 3rd. Investors of record on Monday, September 8th were given a dividend of $0.758 per share. This represents a yield of 555.0%. The ex-dividend date of this dividend was Friday, September 5th.

About Fortescue

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.