Zacks Investment Research Lowers FORTESCUE METAL/S (OTCMKTS:FSUGY) to Hold

FORTESCUE METAL/S (OTCMKTS:FSUGY) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, reports.

According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “

FSUGY has been the topic of a number of other reports. Goldman Sachs Group raised shares of FORTESCUE METAL/S from a “neutral” rating to a “buy” rating in a research report on Tuesday. Jefferies Financial Group downgraded shares of FORTESCUE METAL/S from a “buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. FORTESCUE METAL/S presently has a consensus rating of “Buy” and an average price target of $14.00.

FSUGY traded up $0.69 on Tuesday, reaching $10.09. 158,572 shares of the company traded hands, compared to its average volume of 72,640. The business has a 50 day moving average price of $11.69. FORTESCUE METAL/S has a 52-week low of $4.97 and a 52-week high of $13.28. The stock has a market cap of $15.73 billion, a P/E ratio of 14.62 and a beta of 1.47.


Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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