Fortescue Ltd (OTCMKTS:FSUGY) Sees Significant Drop in Short Interest

Fortescue Ltd (OTCMKTS:FSUGY) was the target of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 10,300 shares, a decline of 55.4% from the February 13th total of 23,100 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 223,600 shares, the short-interest ratio is currently 0.0 days.

Fortescue Stock Performance

Shares of OTCMKTS FSUGY traded up $0.60 during midday trading on Friday, hitting $20.74. 157,795 shares of the company’s stock were exchanged, compared to its average volume of 134,287. The company has a debt-to-equity ratio of 0.27, a quick ratio of 2.10 and a current ratio of 2.67. The stock’s 50 day moving average price is $22.79 and its 200-day moving average price is $24.01. Fortescue has a twelve month low of $19.39 and a twelve month high of $36.87.

Fortescue Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 3rd will be given a dividend of $0.6199 per share. The ex-dividend date is Monday, March 3rd.

About Fortescue

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.