Citigroup upgraded shares of Fortescue (OTCMKTS:FSUGY - Free Report) from a hold rating to a strong-buy rating in a research note released on Tuesday morning,Zacks.com reports.
Separately, The Goldman Sachs Group upgraded Fortescue from a "strong sell" rating to a "hold" rating in a research report on Tuesday, April 8th.
Read Our Latest Research Report on FSUGY
Fortescue Trading Up 2.9 %
Shares of FSUGY stock traded up $0.59 during mid-day trading on Tuesday, reaching $21.24. The stock had a trading volume of 106,792 shares, compared to its average volume of 177,523. Fortescue has a one year low of $16.41 and a one year high of $36.87. The firm's 50 day simple moving average is $19.81 and its 200 day simple moving average is $22.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 2.67 and a quick ratio of 2.10.
Fortescue Cuts Dividend
The firm also recently declared a dividend, which was paid on Thursday, April 3rd. Investors of record on Monday, March 3rd were issued a dividend of $0.6199 per share. The ex-dividend date was Monday, March 3rd.
About Fortescue
(
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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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