Fortescue (OTCMKTS:FSUGY) Shares Down 5% – Time to Sell?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) fell 5% on Thursday . The company traded as low as $29.10 and last traded at $29.20. 6,364 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 34,986 shares. The stock had previously closed at $30.73.

Wall Street Analyst Weigh In

Separately, Jefferies Financial Group downgraded Fortescue from a “hold” rating to an “underperform” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

Fortescue Trading Down 4.8%

The firm’s 50-day simple moving average is $29.10 and its 200 day simple moving average is $26.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43.

Fortescue Company Profile

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.