Fortescue Metals G (NASDAQ:FSUGY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a report released on Tuesday. The firm currently has a $11.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 19.76% from the stock’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. “

Fortescue Metals G (FSUGY) traded down 3.214% during midday trading on Tuesday, reaching $9.185. 19,923 shares of the company traded hands. Fortescue Metals G has a 12 month low of $6.81 and a 12 month high of $11.12. The company’s 50-day moving average price is $8.11 and its 200 day moving average price is $8.71. The firm has a market capitalization of $14.28 billion and a PE ratio of 7.591.

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