Ferrexpo (LON:FXPO) Trading 13.3% Higher – Here’s Why

Ferrexpo plc (LON:FXPO) traded 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 changed hands during trading, an increase of 285% from the average session volume of 2,348,607 shares. The stock had previously closed at GBX 69.30.

Wall Street Analysts Forecast Growth

Separately, Peel Hunt reaffirmed a “hold” rating and set 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, According to MarketBeat, Ferrexpo presently has an average rating of “Hold” and a consensus target price of GBX 53.

Ferrexpo Stock Performance

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 50-day moving average of GBX 69.60 and a 200 day moving average of GBX 58.53. The stock has a market capitalization of £461.89 million, a P/E ratio of -1.53, 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.