Zacks Investment Research downgraded shares of Fortescue Metals G (OTCMKTS:FSUGY) from a buy rating to a hold rating in a research note released on Tuesday.
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 (FSUGY) traded up $0.12 during trading on Tuesday, reaching $8.48. The company’s stock had a trading volume of 7,179 shares, compared to its average volume of 46,169. The company has a quick ratio of 0.92, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. Fortescue Metals G has a one year low of $6.81 and a one year high of $11.12.
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It owns and operates the Chichester Hub that consists of 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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