Shares of Fortescue Ltd (OTCMKTS:FSUMF – Get Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $14.32 and traded as low as $13.00. Fortescue shares last traded at $13.00, with a volume of 0 shares.
Analyst Upgrades and Downgrades
Separately, Jefferies Financial Group upgraded Fortescue to a “hold” rating in a research note on Thursday, August 20th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Fortescue has a consensus rating of “Hold”.
Check Out Our Latest Stock Analysis on Fortescue
Fortescue Stock Performance
Fortescue Company Profile
Fortescue Metals Group Ltd. (OTCMKTS: FSUMF) is an Australian-based mining company primarily engaged in the exploration, extraction and export of iron ore. Founded in 2003 by Chairman Andrew “Twiggy” Forrest, Fortescue has grown into one of the world’s largest iron ore producers, operating large-scale open-pit mines in the Pilbara region of Western Australia. The company’s operations encompass the full mining value chain—from pit to port—including rail logistics and port infrastructure.
In addition to its core iron ore business, Fortescue has diversified into renewable energy and green hydrogen through its subsidiary Fortescue Future Industries (FFI).
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