Fortescue Metals G (NASDAQ:FSUGY) Lifted to “Buy” at Zacks Investment Research
Fortescue Metals G (NASDAQ:FSUGY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $11.00 target price on the stock. Zacks Investment Research‘s price target indicates a potential upside of 19.76% from the stock’s current price.
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. “
Fortescue Metals G (NASDAQ:FSUGY) traded down 3.214% on Tuesday, hitting $9.185. The stock had a trading volume of 19,923 shares. The company’s 50 day moving average is $8.11 and its 200 day moving average is $8.71. The firm has a market cap of $14.28 billion and a PE ratio of 7.591. Fortescue Metals G has a 12-month low of $6.81 and a 12-month high of $11.12.
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