Ferrexpo (LON:FXPO) Shares Up 18.2% – Here’s Why

Ferrexpo plc (LON:FXPO) shot up 18.2% during mid-day trading on Thursday . The company traded as high as GBX 93.22 ($1.16) and last traded at GBX 87 ($1.08). 7,660,994 shares changed hands during trading, an increase of 153% from the average session volume of 3,025,268 shares. The stock had previously closed at GBX 73.60 ($0.91).

Ferrexpo Trading Up 9.4 %

The company has a market capitalization of £569.43 million, a PE ratio of -1,360.00, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.11 and a quick ratio of 2.20. The company’s fifty day moving average is GBX 103.03 and its 200-day moving average is GBX 71.34.

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.