FORTESCUE METALS G ADR EA REPR 2 (FSUGY) Upgraded 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 report issued on Tuesday. The brokerage currently has a $8.75 price target on the stock. Zacks Investment Research’s price target would indicate a potential upside of 10.62% from the company’s current price.
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 brokerages have also recently weighed in on FSUGY. Macquarie reaffirmed an “outperform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Sunday, July 31st. RBC Capital Markets reaffirmed a “sector perform” rating on shares of FORTESCUE METALS G ADR EA REPR 2 in a report on Monday, August 1st.
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Shares of FORTESCUE METALS G ADR EA REPR 2 (NASDAQ:FSUGY) traded up 2.86% during mid-day trading on Tuesday, reaching $7.91. 7,200 shares of the company’s stock traded hands. FORTESCUE METALS G ADR EA REPR 2 has a one year low of $1.99 and a one year high of $7.91. 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 price-to-earnings ratio of 12.52.
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