Fortescue (OTCMKTS:FSUGY) Shares Gap Up – Still a Buy?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) shares gapped up prior to trading on Tuesday . The stock had previously closed at $26.47, but opened at $27.50. Fortescue shares last traded at $27.2950, with a volume of 12,856 shares traded.

Wall Street Analyst Weigh In

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

Fortescue Price Performance

The company has a quick ratio of 1.84, a current ratio of 2.43 and a debt-to-equity ratio of 0.26. The company has a 50 day moving average of $26.02 and a 200 day moving average of $23.69.

Fortescue Dividend Announcement

The business also recently declared a dividend, which was paid on Friday, October 3rd. Shareholders of record on Monday, September 8th were given a $0.758 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a dividend yield of 555.0%.

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.