Ferrexpo (LON:FXPO) Shares Up 13.3% – Here’s Why

Shares of Ferrexpo plc (LON:FXPO) shot up 13.3% during mid-day trading on Thursday . The stock traded as high as GBX 84.04 and last traded at GBX 78.50. 9,049,377 shares traded hands during mid-day trading, an increase of 285% from the average session volume of 2,348,607 shares. The stock had previously closed at GBX 69.30.

Analyst Upgrades and Downgrades

Separately, Peel Hunt reiterated a “hold” rating and issued a GBX 53 target price on shares of Ferrexpo in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Ferrexpo currently has an average rating of “Hold” and an average price target of GBX 53.

Ferrexpo Trading Up 10.1%

The firm has a market capitalization of £508.37 million, a price-to-earnings ratio of -1.69, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The business’s 50 day moving average price is GBX 69.60 and its 200-day moving average price is GBX 58.53. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.11 and a quick ratio of 2.20.

Ferrexpo Company Profile

Ferrexpo is a Swiss headquartered iron ore company with assets in Ukraine and a premium listing on the London Stock Exchange in the FTSE 250 index (ticker FXPO). The Group produces high grade iron ore pellets, which are a premium product for the global steel industry and enable reduced carbon emissions and increased productivity for steelmakers when the Group’s iron ore pellets are converted into steel, compared to more commonly traded forms of iron ore.

Ferrexpo’s operations have been supplying the global steel industry for over 50 years, and in 2022 the Group produced 6.1 million tonnes of iron ore pellets, despite the war in Ukraine.