Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report) dropped 0.3% on Thursday . The stock traded as low as $25.95 and last traded at $26.21. Approximately 105,897 shares changed hands during mid-day trading, an increase of 48% from the average daily volume of 71,548 shares. The stock had previously closed at $26.29.
Analysts Set New Price Targets
Separately, Zacks Research upgraded Fortescue from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 26th. Two analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Reduce”.
Check Out Our Latest Research Report on FSUGY
Fortescue Stock Down 0.3%
About Fortescue
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.
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