Ferrexpo (LON:FXPO) Stock Price Up 9% – Here’s Why

Shares of Ferrexpo plc (LON:FXPO) shot up 9% during mid-day trading on Friday . The stock traded as high as GBX 58.80 and last traded at GBX 58.20. 11,027,037 shares were traded during trading, an increase of 206% from the average session volume of 3,604,983 shares. The stock had previously closed at GBX 53.40.

Analyst Ratings Changes

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

Ferrexpo Price Performance

The stock has a market capitalization of £339.50 million, a P/E ratio of -1.13, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. 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 stock has a 50-day simple moving average of GBX 53.86 and a 200 day simple moving average of GBX 53.27.

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.