Jefferies Financial Group Upgrades Fortescue (OTCMKTS:FSUGY) to Hold

Fortescue (OTCMKTS:FSUGY) was upgraded by investment analysts at Jefferies Financial Group from a “moderate sell” rating to a “hold” rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target on the stock. in a research report on Thursday, July 2nd. Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Fortescue has an average rating of “Reduce” and a consensus price target of $16.90.

Fortescue Price Performance

Shares of OTCMKTS:FSUGY opened at $25.53 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.28 and a current ratio of 3.03. The stock’s fifty day simple moving average is $26.19 and its two-hundred day simple moving average is $28.28. Fortescue has a 1-year low of $24.08 and a 1-year high of $33.44.

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.