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

Fortescue Ltd (OTCMKTS:FSUGY) was the target of a significant 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 daily volume of 429,400 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.0% of the shares of the stock are short sold.

Fortescue Price Performance

FSUGY traded down $0.60 on Friday, hitting $19.72. 159,097 shares of the stock were exchanged, compared to its average volume of 142,404. The company has a current ratio of 2.67, a quick ratio of 2.10 and a debt-to-equity ratio of 0.27. Fortescue has a 12 month low of $19.39 and a 12 month high of $36.87. The business has a 50-day moving average of $22.36 and a two-hundred day moving average of $23.77.

Fortescue Cuts Dividend

The firm also recently declared a dividend, which will be paid on Thursday, April 3rd. Stockholders of record on Monday, March 3rd will be issued a dividend of $0.6199 per share. 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.