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

Fortescue Ltd (OTCMKTS:FSUGY) was the recipient of a significant decline in short interest during the month of February. As of February 28th, there was short interest totalling 10,300 shares, a decline of 55.4% from the February 13th total of 23,100 shares. Based on an average daily trading volume, of 223,600 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.0% of the company’s stock are sold short.

Fortescue Price Performance

Fortescue stock traded up $0.60 during midday trading on Friday, hitting $20.74. The stock had a trading volume of 157,795 shares, compared to its average volume of 134,287. 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 12 month low of $19.39 and a 12 month high of $36.87. The business has a fifty day moving average price of $22.79 and a 200 day moving average price of $24.01.

Fortescue Cuts Dividend

The business also recently announced 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.

About Fortescue

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.