Fortescue (OTCMKTS:FSUGY) Shares Gap Down – Should You Sell?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $30.04, but opened at $28.75. Fortescue shares last traded at $29.18, with a volume of 8,618 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Royal Bank Of Canada cut shares of Fortescue from a “moderate buy” rating to a “hold” rating in a report on Tuesday, August 26th. One research analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold”.

Fortescue Price Performance

The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84. The firm’s 50 day moving average price is $27.16 and its two-hundred day moving average price is $24.56.

Fortescue Company Profile

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.