Ferrexpo (LON:FXPO) Shares Up 13.3% – Here’s Why
by Kim Johansen · The Markets DailyFerrexpo plc (LON:FXPO – Get Free Report) shares were up 13.3% during trading on Thursday . The company traded as high as GBX 84.04 and last traded at GBX 78.50. Approximately 9,049,377 shares traded hands 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.
Analysts Set New Price Targets
Separately, Peel Hunt reiterated a “hold” rating and issued a GBX 53 price objective on shares of Ferrexpo in a research note on Monday, November 10th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 53.
Read Our Latest Stock Analysis on FXPO
Ferrexpo Trading Up 13.3%
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 company has a market cap of £461.89 million, a price-to-earnings ratio of -1.53, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company’s fifty day moving average price is GBX 69.60 and its two-hundred day moving average price is GBX 58.53.
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.