Fortescue (OTCMKTS:FSUGY) Trading Up 2.8% - Still a Buy?

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report)'s stock price was up 2.8% during mid-day trading on Monday . The stock traded as high as $22.73 and last traded at $22.57. Approximately 54,581 shares changed hands during mid-day trading, a decline of 34% from the average daily volume of 82,300 shares. The stock had previously closed at $21.95.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on FSUGY shares. Citigroup raised Fortescue from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 29th. The Goldman Sachs Group raised Fortescue from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 8th.

Fortescue Price Performance

The firm's 50-day simple moving average is $20.81 and its 200 day simple moving average is $21.18. The company has a current ratio of 2.70, a quick ratio of 1.96 and a debt-to-equity ratio of 0.27.

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.