Short Interest in Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY) Decreases By 76.2%

Key Points

• Short interest in Fortescue Ltd. decreased by 76.2% in September, dropping from 111,800 shares to 26,600 shares.
• Fortescue declared a dividend of $0.758 per share, payable on October 3rd, which corresponds to a substantial dividend yield of 555.0%.
• Analysts have mixed ratings on Fortescue, with one Strong Buy, two Hold, and one Sell rating, resulting in an average rating of "Hold".

Fortescue Ltd. Sponsored ADR (OTCMKTS:FSUGY - Get Free Report) saw a significant decline in short interest in September. As of September 15th, there was short interest totaling 26,600 shares, a decline of 76.2% from the August 31st total of 111,800 shares. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily volume of 110,400 shares, the days-to-cover ratio is currently 0.2 days.

Fortescue Stock Performance

Shares of FSUGY stock traded up $0.31 on Wednesday, reaching $25.09. 987 shares of the company were exchanged, compared to its average volume of 119,478. The company has a debt-to-equity ratio of 0.26, a current ratio of 2.43 and a quick ratio of 1.84. The company has a 50-day moving average of $24.81 and a 200-day moving average of $21.85. Fortescue has a one year low of $16.41 and a one year high of $28.15.

Fortescue Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Friday, October 3rd. Stockholders of record on Monday, September 8th will be given a dividend of $0.758 per share. This represents a dividend yield of 555.0%. The ex-dividend date is Friday, September 5th.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank Of Canada downgraded Fortescue from a "moderate buy" rating to a "hold" rating in a report on Tuesday, August 26th. Macquarie cut shares of Fortescue from a "hold" rating to a "strong sell" rating in a research report on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold".

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.

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