Fortescue Metals G Spon (FSUGY) Cut to Hold at Zacks Investment Research

Zacks Investment Research lowered shares of Fortescue Metals G Spon (NASDAQ:FSUGY) from a buy rating to a hold rating in a research note released on Thursday morning.

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. “

Fortescue Metals G Spon (NASDAQ:FSUGY) traded down 1.14% on Thursday, hitting $7.40. The stock had a trading volume of 35,296 shares. The firm’s 50-day moving average price is $8.19 and its 200-day moving average price is $8.14. Fortescue Metals G Spon has a 1-year low of $6.83 and a 1-year high of $11.12. The firm has a market cap of $11.51 billion and a P/E ratio of 5.52.

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