Fortescue (OTCMKTS:FSUGY) Hits New 52-Week Low – Here’s What Happened

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares hit a new 52-week low on Wednesday . The stock traded as low as $23.79 and last traded at $23.9375, with a volume of 7062 shares changing hands. The stock had previously closed at $25.35.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group cut shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective on the stock. in a research report 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 equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Fortescue has a consensus rating of “Reduce” and an average price target of $16.90.

Fortescue Stock Down 5.4%

The business has a 50 day moving average of $25.77 and a 200 day moving average of $28.01. The company has a quick ratio of 2.28, a current ratio of 3.03 and a debt-to-equity ratio of 0.27.

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.