What Next for FORTESCUE METAL GROUP LTD ORDINARY SHARE (OTCMKTS:FSUMF) Stock After Increase in Shorted Shares?

Fortescue Metals Group Limited (OTCMKTS:FSUMF) Logo

The stock of FORTESCUE METAL GROUP LTD ORDINARY SHARE (OTCMKTS:FSUMF) registered an increase of 51.08% in short interest. FSUMF’s total short interest was 6.10M shares in December as published by FINRA. Its up 51.08% from 4.04 million shares, reported previously. With 18,200 shares average volume, it will take short sellers 335 days to cover their FSUMF’s short positions.

It closed at $2.84 lastly. It is down 0.00% since December 8, 2017 and is . It has underperformed by 15.62% 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 $9.08 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 10.11 P/E ratio.

More notable recent Fortescue Metals Group Limited (OTCMKTS:FSUMF) news were published by: Seekingalpha.com which released: “Alloy Steel: A Picks And Shovels Play On The Mining Industry – Seeking Alpha” on September 07, 2011, also Seekingalpha.com with their article: “Wood Mackenzie cuts iron ore price outlook – Seeking Alpha” published on January 30, 2018, Seekingalpha.com published: “Get On Board The Iron Ore Train – Seeking Alpha” on March 09, 2012. More interesting news about Fortescue Metals Group Limited (OTCMKTS:FSUMF) were released by: Seekingalpha.com and their article: “China steel production, iron ore use seen peaking this year – Seeking Alpha” published on October 02, 2018 as well as Seekingalpha.com‘s news article titled: “Update: Fortescue Metals Adds 300 Million Tonnes Of Iron Ore – Seeking Alpha” with publication date: January 11, 2015.

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