Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Here’s Why

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $26.47, but opened at $27.50. Fortescue shares last traded at $27.2950, with a volume of 12,856 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Royal Bank Of Canada lowered shares of Fortescue from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold”.

Fortescue Trading Up 3.6%

The company’s 50-day simple moving average is $26.02 and its 200-day simple moving average is $23.69. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84.

Fortescue Dividend Announcement

The business also recently disclosed a dividend, which was paid on Friday, October 3rd. Stockholders of record on Monday, September 8th were paid a dividend of $0.758 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a dividend yield of 555.0%.

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.