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 research note released on Tuesday, 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 analysts also recently issued reports about the stock. Jefferies Financial Group downgraded shares of FORTESCUE METAL/S from a buy rating to a hold rating in a research note on Tuesday, August 6th. Goldman Sachs Group raised shares of FORTESCUE METAL/S from a neutral rating to a buy rating in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. FORTESCUE METAL/S presently has an average rating of Hold and a consensus target price of $14.00.

OTCMKTS FSUGY opened at $10.11 on Tuesday. The stock has a market capitalization of $15.54 billion, a P/E ratio of 14.66 and a beta of 1.47. FORTESCUE METAL/S has a 1 year low of $4.97 and a 1 year high of $13.28. The business’s fifty day moving average is $11.60 and its two-hundred day moving average is $10.66.


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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