Fortescue (OTCMKTS:FSUGY) Rating Lowered to Strong Sell at Zacks Research

Fortescue (OTCMKTS:FSUGY) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Thursday,Zacks.com reports.

Separately, Jefferies Financial Group restated an “underperform” rating on shares of Fortescue in a research note on Monday, February 16th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

Fortescue Stock Down 3.0%

Shares of OTCMKTS:FSUGY opened at $25.99 on Thursday. Fortescue has a twelve month low of $16.41 and a twelve month high of $31.70. The stock’s 50 day moving average is $29.25 and its 200-day moving average is $27.88. The company has a quick ratio of 1.84, a current ratio of 2.43 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.