Fortescue (OTCMKTS:FSUGY) Sets New 1-Year High – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $30.9396 and last traded at $30.53, with a volume of 23975 shares traded. The stock had previously closed at $30.43.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut Fortescue from a “hold” rating to an “underperform” rating in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold”.

Fortescue Price Performance

The stock’s 50-day simple moving average is $28.69 and its 200 day simple moving average is $26.05. The company has a current ratio of 2.43, a quick ratio of 1.84 and a debt-to-equity ratio of 0.26.

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.