Fortescue Metals Group Limited (OTCMKTS:FSUMF) Short Interest Update

Fortescue Metals Group Limited (OTCMKTS:FSUMFGet Rating) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totalling 2,558,000 shares, an increase of 144.6% from the April 15th total of 1,045,800 shares. Based on an average daily volume of 21,800 shares, the short-interest ratio is presently 117.3 days.

Separately, UBS Group upgraded shares of Fortescue Metals Group to a “hold” rating and set a $17.10 target price for the company in a research note on Monday, March 28th.

OTCMKTS FSUMF traded up $0.44 during trading hours on Friday, hitting $13.64. The company had a trading volume of 3,796 shares, compared to its average volume of 10,773. Fortescue Metals Group has a 1-year low of $10.25 and a 1-year high of $19.55. The business has a 50 day moving average of $14.65 and a 200-day moving average of $13.87.

About Fortescue Metals Group (Get Rating)

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. It also explores for copper and gold deposits. The company owns and operates the Chichester Hub that includes the Cloudbreak and Christmas Creek mines located in the Chichester ranges; and the Solomon Hub comprising the Firetail, Kings Valley, and Queens Valley mines located in the Hamersley ranges of Pilbara, Western Australia.

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