Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report) gapped up before the market opened on Tuesday. The stock had previously closed at $22.61, but opened at $23.77. Fortescue shares last traded at $22.87, with a volume of 5,168 shares.
Analyst Ratings Changes
Several research analysts have commented on the company. Jefferies Financial Group raised Fortescue from a “moderate sell” rating to a “hold” rating in a research report on Thursday, August 20th. Zacks Research downgraded shares of Fortescue from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Finally, The Goldman Sachs Group lowered shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price target on the stock. in a research report on Thursday, July 2nd. Two analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus target price of $16.90.
Get Our Latest Analysis on Fortescue
Fortescue Price Performance
Fortescue Company Profile
Fortescue is an Australian resources and energy company that produces and ships iron ore from operations in Western Australia’s Pilbara region. Its mining business includes integrated exploration, development, processing, rail, port and shipping activities, supplying iron ore to steelmakers in international markets, particularly across Asia.
The company is also developing renewable energy and low-emissions technologies through its Fortescue Energy business. Its activities include projects involving green hydrogen, green ammonia, renewable power and other technologies intended to support the decarbonization of heavy industry and transportation.
Founded in 2003, Fortescue was originally known as Fortescue Metals Group before adopting the Fortescue name.
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