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

Zacks Investment Research cut shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a strong-buy rating to a hold rating in a research report released on Tuesday, Zacks.com 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. “

Several other research analysts have also weighed in on FSUGY. Goldman Sachs Group raised shares of FORTESCUE METAL/S from a neutral rating to a buy rating in a research note on Tuesday. Jefferies Financial Group lowered shares of FORTESCUE METAL/S from a buy rating to a hold rating in a research note on Tuesday, August 6th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. FORTESCUE METAL/S has a consensus rating of Hold and a consensus price target of $14.00.

FORTESCUE METAL/S stock opened at $10.40 on Tuesday. The company’s 50 day simple moving average is $11.56 and its 200 day simple moving average is $10.66. FORTESCUE METAL/S has a fifty-two week low of $4.97 and a fifty-two week high of $13.28. The firm has a market capitalization of $16.00 billion, a price-to-earnings ratio of 15.07 and a beta of 1.47.

About FORTESCUE METAL/S

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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