FORTESCUE METAL/S (OTCMKTS:FSUGY) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a strong-buy rating to a hold rating in a report issued on Tuesday morning, Zacks.com reports.

According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “

Other equities analysts have also issued research reports about the company. Goldman Sachs Group lowered FORTESCUE METAL/S from a buy rating to a neutral rating in a report on Tuesday, October 29th. Credit Suisse Group raised FORTESCUE METAL/S to a hold rating in a report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $15.00.

OTCMKTS FSUGY opened at $14.69 on Tuesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.37 and a quick ratio of 1.07. FORTESCUE METAL/S has a 52-week low of $8.44 and a 52-week high of $17.48. The business’s 50-day moving average price is $15.25 and its 200 day moving average price is $12.81.

FORTESCUE METAL/S Company Profile

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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Analyst Recommendations for FORTESCUE METAL/S (OTCMKTS:FSUGY)

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