Shares of Fortescue Metals Group Limited (OTCMKTS:FSUMF) passed below its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $5.74 and traded as low as $5.61. Fortescue Metals Group shares last traded at $5.61, with a volume of 235 shares trading hands.
Separately, Morgan Stanley lowered shares of Fortescue Metals Group from an “equal” rating to a “weight” rating in a research note on Tuesday, September 24th.
The firm’s 50-day moving average price is $5.76 and its two-hundred day moving average price is $5.64.
Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. 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 and Kings Valley mines located in the Hamersley ranges of Pilbara, Western Australia.
Featured Story: Outstanding Shares
Receive News & Ratings for Fortescue Metals Group Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Fortescue Metals Group and related companies with MarketBeat.com's FREE daily email newsletter.