Fortescue Ltd Short Interest Sees Notable Drop

Fortescue Ltd (OTCMKTS:FSUGY) experienced a notable decline in short interest throughout November. By November 30th, the company had a total short interest of 60,500 shares, representing a decrease of 27.3% from the total of 83,200 shares noted on November 15th. Given the average daily trading volume of 190,000 shares, the days-to-cover ratio currently stands at 0.3 days.

Fortescue Price Performance

On a recent trading day, Fortescue's stock dipped by $0.93 to reach a price of $24.54. The trading volume for the day was 149,601 shares, surpassing the average volume of 71,455 shares. The company's financial metrics include a quick ratio of 2.10, a current ratio of 2.67, and a debt-to-equity ratio of 0.27. In terms of market performance over the past year, Fortescue recorded a 52-week low of $21.11 and a 52-week high of $39.76. The 50-day moving average price is currently at $25.23, while the 200-day moving average stands at $26.49.

Fortescue Company Overview

Fortescue Ltd is primarily engaged in the exploration, development, production, processing, and sale of iron ore, both within Australia and internationally, including China. The company also explores for a variety of minerals such as copper, gold, and lithium, as well as rare earth elements. In addition to mining, Fortescue operates rail and port facilities and offers port towage services, all while focusing on the development of green energy and hydrogen solutions, including green ammonia derivatives.

Investment Considerations

Before making an investment in Fortescue, it is important for potential investors to conduct thorough research. Current sentiment among analysts reflects a "Hold" rating for Fortescue. Investment experts have identified other stocks that they believe represent better opportunities for clients at this time.

Fortescue, Stocks, Short