Fortescue Metals Group (OTCMKTS:FSUMF) Share Price Crosses Below 200 Day Moving Average of $16.08

Fortescue Metals Group Limited (OTCMKTS:FSUMF)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $16.08 and traded as low as $11.21. Fortescue Metals Group shares last traded at $11.21, with a volume of 392 shares traded.

A number of equities research analysts have recently issued reports on FSUMF shares. Citigroup upgraded Fortescue Metals Group to a “buy” rating and set a $18.50 price objective for the company in a report on Thursday, September 9th. Royal Bank of Canada cut Fortescue Metals Group to a “sell” rating and set a $20.00 price objective for the company. in a report on Thursday, July 15th.

The firm has a 50 day moving average of $13.42 and a 200-day moving average of $16.04.

About Fortescue Metals Group (OTCMKTS:FSUMF)

Fortescue Metals Group Ltd. engages in the development of iron ore deposits. It operates through the China and Other geographical segments. Its projects include Chichester Hub, Solomon Hub, Port Hedland, Eliwana, Iron Bridgen and copper-gold exploration. The company was founded by John Andrew Henry Forrest in April 2003 and is headquartered in East Perth, Australia.

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