Could FORTESCUE METAL GROUP LTD ORDINARY SHARE (OTCMKTS:FSUMF) See a Reversal After Less Sellers Came In?

July 27, 2018 - By Jason Dias

Fortescue Metals Group Limited (OTCMKTS:FSUMF) Logo

The stock of FORTESCUE METAL GROUP LTD ORDINARY SHARE (OTCMKTS:FSUMF) registered a decrease of 8.05% in short interest. FSUMF’s total short interest was 1.55M shares in July as published by FINRA. Its down 8.05% from 1.68M shares, reported previously. With 9,900 shares average volume, it will take short sellers 157 days to cover their FSUMF’s short positions. The short interest to FORTESCUE METAL GROUP LTD ORDINARY SHARE’s float is 0.08%.

It closed at $3.395 lastly. It is down 0.00% since July 27, 2017 and is . It has underperformed by 12.57% the S&P500.

Fortescue Metals Group Limited engages in the exploration, development, production, processing, and sale of iron ore in Australia, China, and internationally. The company has market cap of $10.46 billion. It owns and operates the Chichester Hub that consists of 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. It has a 6.83 P/E ratio.

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