Fortescue Ltd (OTCMKTS:FSUGY) Sees Significant Decrease in Short Interest

Fortescue Ltd (OTCMKTS:FSUGY) saw a large decline in short interest in March. As of March 15th, there was short interest totalling 3,800 shares, a decline of 63.1% from the February 28th total of 10,300 shares. Based on an average trading volume of 429,400 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the company’s shares are sold short.

Fortescue Stock Performance

Shares of FSUGY traded down $0.60 during mid-day trading on Friday, hitting $19.72. 159,097 shares of the company’s stock were exchanged, compared to its average volume of 142,404. The stock’s 50-day moving average is $22.36 and its 200-day moving average is $23.77. The company has a quick ratio of 2.10, a current ratio of 2.67 and a debt-to-equity ratio of 0.27. Fortescue has a fifty-two week low of $19.39 and a fifty-two week high of $36.87.

Fortescue Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 3rd will be given a $0.6199 dividend. The ex-dividend date is Monday, March 3rd.

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.