Goldman Sachs Group Upgrades FORTESCUE METAL/S (OTCMKTS:FSUGY) to Buy

FORTESCUE METAL/S (OTCMKTS:FSUGY) was upgraded by stock analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, The Fly reports.

A number of other research analysts have also recently issued reports on the company. Zacks Investment Research upgraded FORTESCUE METAL/S from a “hold” rating to a “strong-buy” rating and set a $14.00 target price on the stock in a research report on Monday, June 17th. Jefferies Financial Group cut 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 company. The company currently has an average rating of “Buy” and an average price target of $14.00.

FORTESCUE METAL/S stock opened at $9.88 on Tuesday. FORTESCUE METAL/S has a 12-month low of $4.97 and a 12-month high of $13.28. The company has a 50-day simple moving average of $11.65.



FORTESCUE METAL/S Company Profile

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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Analyst Recommendations for FORTESCUE METAL/S (OTCMKTS:FSUGY)

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