Fortescue (OTCMKTS:FSUGY) Shares Gap Down - Should You Sell?

Key Points

• Fortescue Ltd. experienced a significant drop in share price, opening at $24.60 after closing at $26.23, and last trading at $25.25.
• Analysts have mixed opinions on Fortescue, with Citigroup upgrading the stock to a "strong-buy", while Macquarie has downgraded it to a "strong sell".
• The company has a current ratio of 2.70 and a debt-to-equity ratio of 0.27, indicating a solid financial position despite current market fluctuations.

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $26.23, but opened at $24.60. Fortescue shares last traded at $25.25, with a volume of 4,725 shares traded.

Analysts Set New Price Targets

A number of research analysts recently commented on FSUGY shares. Citigroup raised Fortescue from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 29th. Macquarie downgraded Fortescue from a "hold" rating to a "strong sell" rating in a report on Thursday, July 24th.

Fortescue Stock Performance

The company has a current ratio of 2.70, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27. The business has a fifty day simple moving average of $21.87 and a 200 day simple moving average of $21.28.

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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