Shares of Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report) reached a new 52-week low on Monday . The company traded as low as $23.54 and last traded at $23.60, with a volume of 1288 shares changing hands. The stock had previously closed at $24.01.
Analysts Set New Price Targets
A number of equities research analysts recently commented on the company. Zacks Research lowered Fortescue from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Jefferies Financial Group raised shares of Fortescue from a “moderate sell” rating to a “hold” rating in a report on Thursday, August 20th. Finally, The Goldman Sachs Group lowered shares of Fortescue from a “hold” rating to a “sell” rating and set a $16.90 target price for the company. in a research note on Thursday, July 2nd. Two equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Fortescue has a consensus rating of “Reduce” and a consensus price target of $16.90.
View Our Latest Stock Report on Fortescue
Fortescue Trading Down 1.3%
About Fortescue
Fortescue is an Australian mining and energy company formerly known as Fortescue Metals Group. The company is best known for producing and exporting iron ore from the Pilbara region of Western Australia, where it operates an integrated network of mines, railways, port facilities and related infrastructure.
Fortescue’s mining business supplies iron ore products to steelmakers in international markets, particularly across Asia. Its operations include hematite mining and processing, along with infrastructure supporting the transportation and shipment of ore from Western Australia.
Through its Fortescue Energy division, the company is also developing renewable energy and green hydrogen projects intended to support industrial decarbonization.
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