Ferrexpo (LON:FXPO) Shares Up 22.4% – Here’s Why

Ferrexpo plc (LON:FXPO)’s share price shot up 22.4% on Monday . The stock traded as high as GBX 73.56 and last traded at GBX 70.60. 15,627,566 shares changed hands during mid-day trading, an increase of 328% from the average session volume of 3,650,102 shares. The stock had previously closed at GBX 57.70.

Wall Street Analysts Forecast Growth

Separately, Peel Hunt reissued a “hold” rating and set a GBX 53 price objective on shares of Ferrexpo in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Ferrexpo currently has an average rating of “Hold” and an average price target 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 stock’s 50-day moving average price is GBX 55.11 and its 200 day moving average price is GBX 53.25. The company has a market cap of £414.23 million, a P/E ratio of -1.37, a price-to-earnings-growth 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.