Fortescue (OTCMKTS:FSUGY) Downgraded by Royal Bank Of Canada to Hold

Key Points

• Royal Bank of Canada downgraded Fortescue's rating from "moderate buy" to "hold," reflecting concerns over the company's stock performance.
• While one analyst has rated the stock as a Strong Buy, the consensus rating remains "Hold," with mixed evaluations from other analysts.
• Fortescue’s stock opened at $24.89, with a 1-year price range between $16.41 and $28.32, signaling recent fluctuations in market sentiment.

Fortescue (OTCMKTS:FSUGY - Get Free Report) was downgraded by research analysts at Royal Bank Of Canada from a "moderate buy" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Citigroup raised Fortescue from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. Macquarie lowered Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. 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 company. According to data from MarketBeat.com, Fortescue has a consensus rating of "Hold".

Fortescue Stock Performance

FSUGY remained flat at $25.20 during trading hours on Tuesday. The company had a trading volume of 28,386 shares, compared to its average volume of 41,383. The stock has a 50 day simple moving average of $23.09 and a 200-day simple moving average of $21.35. Fortescue has a 52-week low of $16.41 and a 52-week high of $28.32. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.70 and a quick ratio of 1.96.

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.