Shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) hit a new 52-week high on Monday . The stock traded as high as $13.55 and last traded at $13.50, with a volume of 103185 shares trading hands. The stock had previously closed at $13.01.
A number of research analysts recently issued reports on the company. Jefferies Financial Group lowered FORTESCUE METAL/S from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Clarkson Capital reissued a “buy” rating on shares of FORTESCUE METAL/S in a report on Monday, September 23rd. Morgan Stanley downgraded shares of FORTESCUE METAL/S from an “equal weight” rating to an “underweight” rating in a report on Monday, September 23rd. Zacks Investment Research upgraded shares of FORTESCUE METAL/S from a “hold” rating to a “strong-buy” rating and set a $15.00 price objective for the company in a research report on Monday, November 11th. Finally, Credit Suisse Group cut shares of FORTESCUE METAL/S from a “neutral” rating to an “underperform” rating in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.00.
The company has a fifty day simple moving average of $12.36 and a 200-day simple moving average of $11.73.
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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