FORTESCUE METAL/S (OTCMKTS:FSUGY) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.89 and last traded at $11.77, with a volume of 120344 shares traded. The stock had previously closed at $11.20.
FSUGY has been the subject of several recent research reports. Zacks Investment Research upgraded FORTESCUE METAL/S from a “sell” rating to a “hold” rating in a report on Thursday, January 24th. Jefferies Financial Group upgraded FORTESCUE METAL/S from an “underperform” rating to a “buy” rating in a report on Monday, January 28th. Goldman Sachs Group upgraded FORTESCUE METAL/S from a “sell” rating to a “neutral” rating in a report on Wednesday, January 30th. HSBC downgraded FORTESCUE METAL/S from a “buy” rating to a “hold” rating in a report on Wednesday, February 20th. Finally, JPMorgan Chase & Co. raised FORTESCUE METAL/S from a “neutral” rating to an “overweight” rating in a research report on Monday, March 4th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. FORTESCUE METAL/S has an average rating of “Buy” and an average price target of $5.75.
The stock has a market capitalization of $18.18 billion, a price-to-earnings ratio of 17.06 and a beta of 1.65.
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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