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

Ferrexpo plc (LON:FXPO)’s share price rose 13.3% during mid-day trading on Thursday . The stock traded as high as GBX 84.04 and last traded at GBX 78.50. Approximately 9,049,377 shares were traded during trading, an increase of 285% from the average daily volume of 2,348,607 shares. The stock had previously closed at GBX 69.30.

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Wall Street Analysts Forecast Growth

Separately, Peel Hunt reissued a “hold” rating and issued a GBX 53 price objective on shares of Ferrexpo in a research report on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 53.

Ferrexpo Stock Up 13.3%

The firm has a market cap of £461.89 million, a P/E ratio of -1.53, a PEG ratio of -0.18 and a beta of 1.26. The firm’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.