Fortescue (OTCMKTS:FSUGY) Stock Rating Upgraded by Zacks Research

Fortescue (OTCMKTS:FSUGY) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Separately, The Goldman Sachs Group cut shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price on the stock. in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average price target of $16.90.

Fortescue Stock Performance

Shares of OTCMKTS FSUGY opened at $25.80 on Wednesday. Fortescue has a fifty-two week low of $20.55 and a fifty-two week high of $33.44. The firm’s 50-day simple moving average is $29.40 and its 200 day simple moving average is $29.31.

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.