Short Interest in Fortescue Ltd (OTCMKTS:FSUGY) Increases By 1,440.0%

Fortescue Ltd (OTCMKTS:FSUGY) was the target of a significant growth in short interest in February. As of February 15th, there was short interest totalling 23,100 shares, a growth of 1,440.0% from the January 31st total of 1,500 shares. Based on an average trading volume of 183,600 shares, the days-to-cover ratio is currently 0.1 days.

Fortescue Stock Down 3.8 %

Fortescue stock traded down $0.88 during midday trading on Thursday, reaching $22.11. 77,979 shares of the company were exchanged, compared to its average volume of 109,589. The firm’s 50-day simple moving average is $23.38 and its 200-day simple moving average is $24.30. Fortescue has a 1 year low of $21.11 and a 1 year high of $36.87. 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 Cuts Dividend

The company also recently declared a dividend, which will be paid on Thursday, April 3rd. Shareholders of record on Monday, March 3rd will be paid a dividend of $0.6199 per share. The ex-dividend date of this dividend 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.