Ferrexpo (LON:FXPO) Trading 8.1% Higher – Here’s Why

Ferrexpo plc (LON:FXPO) shares rose 8.1% on Saturday . The stock traded as high as GBX 58.80 and last traded at GBX 57.70. Approximately 9,290,895 shares were traded during mid-day trading, an increase of 158% from the average daily volume of 3,597,335 shares. The stock had previously closed at GBX 53.40.

Wall Street Analyst Weigh In

Separately, Peel Hunt restated a “hold” rating and issued a GBX 53 price objective 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 data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of GBX 53.

Ferrexpo Trading Up 8.1%

The business has a 50-day moving average price of GBX 54 and a 200-day moving average price of 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. The firm has a market capitalization of £339.50 million, a P/E ratio of -1.13, a PEG ratio of -0.18 and a beta of 1.26.

About Ferrexpo

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.