Fintel reports that on September 22, 2026, BELL POTTER SECURITIES upgraded their outlook for Fortescue Ltd - Depositary Receipt (OTCPK:FSUGY) (DB:FVJA) from Sell to Hold.

This rating action follows a prior move by BELL POTTER SECURITIES on July 1, 2026, when the firm downgraded the company from Hold to Sell.

Fortescue Metals Group Ltd, based in Australia, is a global leader in the iron ore industry and a major player in the mining sector. Renowned for its extensive operations in the Pilbara region of Western Australia, the company engages in the exploration, development, production, processing, and sale of iron ore. Key projects include the Chichester Hub, Solomon Hub, and the more recent Eliwana mine and rail project, which are pivotal in bolstering its production capacity. Diversifying its portfolio, Fortescue is venturing into renewable energy projects under its subsidiary, Fortescue Future Industries, aimed at developing green hydrogen and other renewable technologies.

Separately, consensus target price data for the company shows a current mean target of $26.87 and a median target of $26.52 as of June 8, 2026. This represents an -8.41% consensus target revision from the prior mean target of $29.34 recorded on February 25, 2026.

As of the current recommendation period on September 1, 2026, the aggregate analyst recommendation distribution consists of 2 buy, 10 hold, 9 sell, and 1 strong sell ratings, totaling 22 recommendations. This distribution reflects 9.1% positive, 45.5% hold, and 45.5% negative recommendations. In comparison, the prior recommendation period on August 1, 2026, recorded 2 buy, 8 hold, 10 sell, and 2 strong sell ratings out of 22 total recommendations, representing 9.1% positive, 36.4% hold, and 54.5% negative recommendations.

Recent analyst actions

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This story originally appeared on Fintel.