Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Sees Large Decline in Short Interest

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) was the recipient of a large decrease in short interest in August. As of August 14th, there was short interest totaling 25,135 shares, a decrease of 71.0% from the July 30th total of 86,791 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 138,145 shares, the short-interest ratio is presently 0.2 days.

Fortescue Price Performance

Shares of Fortescue stock traded up $0.12 on Friday, reaching $25.66. The stock had a trading volume of 60,871 shares, compared to its average volume of 86,882. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.03 and a quick ratio of 2.28. Fortescue has a fifty-two week low of $24.08 and a fifty-two week high of $33.44. The business’s 50-day moving average price is $25.84 and its two-hundred day moving average price is $28.11.

Analyst Ratings Changes

A number of brokerages have issued reports on FSUGY. The Goldman Sachs Group lowered Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target for the company. in a research note on Thursday, July 2nd. Jefferies Financial Group upgraded shares of Fortescue from a “moderate sell” rating to a “hold” rating in a report on Thursday, August 20th. Finally, Zacks Research downgraded Fortescue from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fortescue presently has a consensus rating of “Reduce” and a consensus price target of $16.90.

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.