FORTESCUE METALS G ADR EA REPR 2 (FSUGY) Raised to Buy at Zacks Investment Research
FORTESCUE METALS G ADR EA REPR 2 (NASDAQ:FSUGY) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Tuesday. The firm presently has a $8.75 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 10.62% from the stock’s previous close.
According to Zacks, “Fortescue Metals Group Ltd is engaged in the exploration and mining of iron ore properties. Its properties primarily include the Cloudbreak and Christmas Creek mine sites and the Solomon project located in Pilbara, Western Australia. Fortescue Metals Group Ltd is based in East Perth, Australia. “
Several other analysts have also recently commented on FSUGY. RBC Capital Markets restated a “sector perform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Monday, August 1st. Macquarie restated an “outperform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Sunday, July 31st.
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FORTESCUE METALS G ADR EA REPR 2 (NASDAQ:FSUGY) traded up 2.86% during midday trading on Tuesday, reaching $7.91. 7,200 shares of the company were exchanged. The firm’s 50-day moving average is $7.44 and its 200-day moving average is $5.93. The firm has a market cap of $12.31 billion and a P/E ratio of 12.52. FORTESCUE METALS G ADR EA REPR 2 has a one year low of $1.99 and a one year high of $7.91.
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