Fortescue Metals G Spon (NASDAQ:FSUGY) Stock Rating Upgraded by Zacks Investment Research

Fortescue Metals G Spon (NASDAQ:FSUGY) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research report issued to clients and investors on Monday, October 16th. The brokerage presently has a $8.75 target price on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 16.90% 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. “

Fortescue Metals G Spon (FSUGY) opened at 7.485 on Monday. The stock has a market cap of $11.64 billion and a PE ratio of 5.586. The company’s 50-day moving average price is $8.31 and its 200-day moving average price is $8.16. Fortescue Metals G Spon has a 12-month low of $6.83 and a 12-month high of $11.12.

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