Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Grows By 100.4%

Key Points

• Fortescue Ltd. Sponsored ADR saw a **100.4% increase** in short interest in August, totaling **111,800 shares** by the end of the month.
• The company announced a **dividend of $0.758** per share, with a **yield of 555.0%**, to be paid on October 3rd to shareholders recorded by September 8th.
• Analyst ratings for FSUGY reflect a cautious outlook, with Macquarie and Royal Bank of Canada recently **downgrading** their ratings, resulting in an average rating of **"Hold."**

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) was the target of a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 111,800 shares, an increase of 100.4% from the August 15th total of 55,800 shares. Currently, 0.0% of the shares of the stock are sold short. Based on an average trading volume of 69,100 shares, the short-interest ratio is presently 1.6 days. Based on an average trading volume of 69,100 shares, the short-interest ratio is presently 1.6 days. Currently, 0.0% of the shares of the stock are sold short.

Fortescue Stock Performance

Shares of FSUGY stock traded up $0.06 during trading hours on Friday, reaching $25.03. The company had a trading volume of 91,216 shares, compared to its average volume of 44,553. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84. The stock has a fifty day moving average of $24.36 and a 200-day moving average of $21.56. Fortescue has a 12-month low of $16.41 and a 12-month high of $28.32.

Fortescue Announces Dividend

The business also recently declared a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be given a $0.758 dividend. The ex-dividend date is Friday, September 5th. This represents a dividend yield of 555.0%.

Analyst Ratings Changes

A number of research analysts have weighed in on FSUGY shares. Macquarie downgraded shares of Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. Royal Bank Of Canada downgraded shares of Fortescue from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, August 26th. One analyst has rated the stock with a Strong Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, Fortescue currently has an average rating of "Hold".

Fortescue Company Profile

Fortescue Ltd engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It explores for copper, gold, and lithium deposits; and rare earth elements. The company provides port towage services; owns and operates rail and port facilities; and focuses on producing green energy and green hydrogen, including derivatives comprising green ammonia.