Fortescue (OTCMKTS:FSUGY) Sets New 12-Month Low – Time to Sell?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY – Get Free Report) shares hit a new 52-week low during trading on Tuesday. The company traded as low as $21.36 and last traded at $21.36, with a volume of 7,407 shares changing hands. The stock had previously closed at $21.95.

Analysts Set New Price Targets

A number of research analysts have commented on FSUGY shares. Zacks Research lowered Fortescue from a “hold” rating to a “strong sell” rating in a report on Thursday, October 8th. Jefferies Financial Group upgraded Fortescue from a “moderate sell” rating to a “hold” rating in a research note on Thursday, August 20th. Finally, The Goldman Sachs Group lowered Fortescue from a “hold” rating to a “sell” rating and set a $16.90 price objective on the stock. in a research note on Thursday, July 2nd. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Sell” and an average target price of $16.90.

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Fortescue Trading Down 0.8%

The company has a quick ratio of 1.76, a current ratio of 2.32 and a debt-to-equity ratio of 0.27. The stock has a 50 day moving average of $24.07 and a 200 day moving average of $26.90.

Fortescue Company Profile

(Get Free Report)

Fortescue is an Australian resources and energy company that produces and ships iron ore from operations in Western Australia’s Pilbara region. Its mining business includes integrated exploration, development, processing, rail, port and shipping activities, supplying iron ore to steelmakers in international markets, particularly across Asia.

The company is also developing renewable energy and low-emissions technologies through its Fortescue Energy business. Its activities include projects involving green hydrogen, green ammonia, renewable power and other technologies intended to support the decarbonization of heavy industry and transportation.

Founded in 2003, Fortescue was originally known as Fortescue Metals Group before adopting the Fortescue name.

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