Fortescue (OTCMKTS:FSUGY) Stock Price Down 5% – What’s Next?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY)’s share price traded down 5% on Thursday . The stock traded as low as $29.10 and last traded at $29.20. 6,364 shares traded hands during trading, a decline of 82% from the average session volume of 34,986 shares. The stock had previously closed at $30.73.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group cut Fortescue from a “hold” rating to an “underperform” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Fortescue presently has a consensus rating of “Hold”.

Fortescue Stock Down 4.8%

The firm’s fifty day moving average is $29.10 and its 200 day moving average is $26.38. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.84 and a current ratio of 2.43.

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.