UBS Group upgraded shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a sell rating to a neutral rating in a research note issued to investors on Thursday morning, The Fly reports.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut FORTESCUE METAL/S from a strong-buy rating to a hold rating in a report on Tuesday, August 13th. Jefferies Financial Group cut FORTESCUE METAL/S from a buy rating to a hold rating in a report on Tuesday, August 6th. Finally, Goldman Sachs Group raised FORTESCUE METAL/S from a neutral rating to a buy rating in a report on Tuesday, August 13th. Four 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 an average rating of Hold and an average price target of $14.00.
Shares of FSUGY stock opened at $10.40 on Thursday. FORTESCUE METAL/S has a 12-month low of $4.97 and a 12-month high of $13.28. The stock’s 50-day moving average price is $11.56 and its 200-day moving average price is $10.66. The stock has a market capitalization of $15.56 billion, a price-to-earnings ratio of 15.07 and a beta of 1.47.
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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