Ferrexpo (LON:FXPO) Shares Up 22.4% – Here’s What Happened

Shares of Ferrexpo plc (LON:FXPO) were up 22.4% during trading on Monday . The stock traded as high as GBX 73.56 and last traded at GBX 70.60. Approximately 15,627,566 shares changed hands during trading, an increase of 328% from the average daily volume of 3,650,102 shares. The stock had previously closed at GBX 57.70.

Wall Street Analyst Weigh In

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

Ferrexpo Trading Up 22.4%

The stock has a market cap of £415.41 million, a P/E ratio of -1.38, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The firm’s 50 day simple moving average is GBX 54.36 and its two-hundred day simple moving average is GBX 53.05. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.33.

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.