Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Short Interest Up 100.4% in August

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) saw a significant increase in short interest in 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. Based on an average daily trading volume, of 69,100 shares, the short-interest ratio is presently 1.6 days. Approximately 0.0% of the shares of the stock are short sold. Approximately 0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 69,100 shares, the short-interest ratio is presently 1.6 days.

Fortescue Price Performance

FSUGY stock traded down $0.25 during midday trading on Friday, hitting $24.79. The stock had a trading volume of 27,960 shares, compared to its average volume of 42,080. The company has a quick ratio of 1.96, a current ratio of 2.43 and a debt-to-equity ratio of 0.26. Fortescue has a 12-month low of $16.41 and a 12-month high of $28.32. The company's 50-day moving average price is $24.05 and its 200 day moving average price is $21.45.

Fortescue Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FSUGY shares. Macquarie downgraded Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. Royal Bank Of Canada downgraded 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold".

About Fortescue

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.

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