Ferrexpo (LON:FXPO) Shares Down 11.8% – Here’s Why

Ferrexpo plc (LON:FXPO)’s stock price fell 11.8% on Wednesday . The company traded as low as GBX 64.40 and last traded at GBX 68.70. 30,764,867 shares changed hands during mid-day trading, an increase of 710% from the average session volume of 3,800,032 shares. The stock had previously closed at GBX 77.90.

Analyst Upgrades and Downgrades

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

Ferrexpo Price Performance

The company has a debt-to-equity ratio of 0.33, a current ratio of 2.11 and a quick ratio of 2.20. The stock has a market capitalization of £390.44 million, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company has a 50-day simple moving average of GBX 57.28 and a two-hundred day simple moving average of GBX 53.57.

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.