Ferrexpo Plc (FXPO) Cut to “Neutral” at J P Morgan Chase & Co
J P Morgan Chase & Co downgraded shares of Ferrexpo Plc (LON:FXPO) to a neutral rating in a research note released on Friday. They currently have GBX 190 ($2.47) price target on the iron ore producer’s stock, up from their previous price target of GBX 180 ($2.34).
FXPO has been the subject of a number of other research reports. Credit Suisse Group increased their target price on shares of Ferrexpo Plc from GBX 167 ($2.17) to GBX 200 ($2.60) and gave the company a neutral rating in a research report on Monday, April 10th. HSBC Holdings plc reissued a buy rating and set a GBX 230 ($3.00) target price on shares of Ferrexpo Plc in a research report on Friday, July 14th. Liberum Capital reissued a sell rating and set a GBX 70 ($0.91) target price on shares of Ferrexpo Plc in a research report on Thursday, August 3rd. Deutsche Bank AG decreased their target price on shares of Ferrexpo Plc from GBX 280 ($3.65) to GBX 270 ($3.52) and set a buy rating for the company in a research report on Thursday, June 22nd. Finally, Barclays PLC increased their target price on shares of Ferrexpo Plc from GBX 50 ($0.65) to GBX 130 ($1.69) and gave the company an underweight rating in a research report on Friday, April 21st. Four equities research analysts have rated the stock with a sell rating, three have issued a hold rating and one has given a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of GBX 144.38 ($1.88).
Shares of Ferrexpo Plc (LON FXPO) opened at 262.10 on Friday. The firm’s market cap is GBX 1.53 billion. The stock’s 50 day moving average is GBX 214.23 and its 200 day moving average is GBX 175.67. Ferrexpo Plc has a 12 month low of GBX 58.00 and a 12 month high of GBX 263.90.
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In other Ferrexpo Plc news, insider Christopher Mawe purchased 481 shares of Ferrexpo Plc stock in a transaction that occurred on Wednesday, May 31st. The stock was acquired at an average price of GBX 173 ($2.25) per share, with a total value of £832.13 ($1,083.64).
About Ferrexpo Plc
Ferrexpo plc is an iron ore pellet producer. The Company produces, develops and markets its principal product, iron ore pellets, for sale to the metallurgical industry. The Company’s operations are vertically integrated from iron ore mining through to iron ore concentrate, and pellet production and subsequent logistics.
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