Ferrexpo (LON:FXPO) Stock Price Down 12.1% – Here’s What Happened

Shares of Ferrexpo plc (LON:FXPO) dropped 12.1% on Thursday . The company traded as low as GBX 64.40 and last traded at GBX 68.50. Approximately 7,425,609 shares traded hands during trading, an increase of 101% from the average daily volume of 3,701,225 shares. The stock had previously closed at GBX 77.90.

Analysts Set New Price Targets

Separately, Peel Hunt reissued 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 company currently has a consensus rating of “Hold” and an average target price of GBX 53.

Ferrexpo Stock Up 1.7%

The firm’s 50-day simple moving average is GBX 57.51 and its 200 day simple moving average is GBX 53.58. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.20 and a current ratio of 2.11. The company has a market cap of £390.15 million, a P/E ratio of -1.29, a PEG ratio of -0.18 and a beta of 1.26.

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.