Fortescue (OTCMKTS:FSUGY) Reaches New 52-Week High – Time to Buy?

Shares of Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) reached a new 52-week high on Monday . The stock traded as high as $28.35 and last traded at $28.30, with a volume of 6290 shares traded. The stock had previously closed at $28.0975.

Analyst Ratings Changes

Separately, Royal Bank Of Canada downgraded Fortescue from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Fortescue Trading Up 1.6%

The firm’s 50-day simple moving average is $26.37 and its 200 day simple moving average is $23.97. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43.

About Fortescue

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.