Fortescue (OTCMKTS:FSUGY) Raised to “Strong-Buy” at Zacks Research

Fortescue (OTCMKTS:FSUGY) was upgraded by research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

Separately, The Goldman Sachs Group cut Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective for the company. in a research report on Thursday. One research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Fortescue presently has a consensus rating of “Reduce” and an average price target of $16.90.

Fortescue Stock Performance

FSUGY stock opened at $25.80 on Wednesday. Fortescue has a one year low of $20.55 and a one year high of $33.44. The firm’s fifty day moving average is $29.40 and its 200 day moving average is $29.31.

Fortescue Company Profile

Fortescue (OTCMKTS:FSUGY) is the U.S. over‑the‑counter ticker for Fortescue Metals Group, an Australian company principally engaged in the exploration, mining, processing and sale of iron ore. Since its founding in 2003, the company has developed large‑scale open‑pit operations in the Pilbara region of Western Australia and built integrated infrastructure — including rail and port facilities — to move bulk shipments of iron ore to international steelmakers.

Fortescue’s core products are iron ore lump and fines, which it markets to customers around the world, with strong trade links to Asian steel producers.