Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Drops By 63.0%

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a significant decrease in short interest in July. As of July 15th, there was short interest totaling 45,013 shares, a decrease of 63.0% from the June 30th total of 121,537 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 316,845 shares, the short-interest ratio is presently 0.1 days.

Fortescue Price Performance

OTCMKTS FSUGY opened at $25.94 on Monday. The company’s 50-day moving average price is $28.03 and its 200-day moving average price is $28.90. Fortescue has a 12 month low of $22.50 and a 12 month high of $33.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.28 and a current ratio of 3.03.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on FSUGY shares. The Goldman Sachs Group downgraded shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price for the company. in a report on Thursday, July 2nd. Zacks Research upgraded Fortescue from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $16.90.

Fortescue Company Profile

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.