Fortescue Metals Group (OTCMKTS:FSUGY) Downgraded by Zacks Investment Research to “Sell”

Fortescue Metals Group (OTCMKTS:FSUGYGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “sell” rating in a report released on Monday, reports.

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. “

FSUGY stock traded up $0.13 during trading on Monday, hitting $30.80. The company had a trading volume of 173,044 shares, compared to its average volume of 63,832. The business has a 50-day moving average of $29.80 and a 200-day moving average of $28.53. Fortescue Metals Group has a one year low of $20.40 and a one year high of $39.40. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.64 and a current ratio of 2.14.

About Fortescue Metals Group (Get Rating)

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It also explores for copper and gold deposits. 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, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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