FORTESCUE METAL/S (OTCMKTS:FSUGY) Upgraded by Goldman Sachs Group to Buy
Goldman Sachs Group upgraded shares of FORTESCUE METAL/S (OTCMKTS:FSUGY) from a neutral rating to a buy rating in a report released on Tuesday, The Fly reports.
A number of other research analysts have also recently commented on FSUGY. Jefferies Financial Group cut FORTESCUE METAL/S from a buy rating to a hold rating in a research note on Tuesday, August 6th. Zacks Investment Research upgraded FORTESCUE METAL/S from a hold rating to a strong-buy rating and set a $14.00 price objective on the stock in a research note on Monday, June 17th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of Hold and an average target price of $14.00.
Shares of FSUGY opened at $10.11 on Tuesday. The stock’s 50-day moving average is $11.60 and its two-hundred day moving average is $10.66. The stock has a market cap of $15.54 billion, a PE ratio of 14.66 and a beta of 1.47. FORTESCUE METAL/S has a 12 month low of $4.97 and a 12 month high of $13.28.
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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