Ferrexpo (LON:FXPO) Shares Up 22.4% – Should You Buy?

Ferrexpo plc (LON:FXPO)’s stock price rose 22.4% during mid-day trading on Monday . The company traded as high as GBX 73.56 and last traded at GBX 70.60. Approximately 15,627,581 shares changed hands during mid-day trading, an increase of 328% from the average daily volume of 3,650,102 shares. The stock had previously closed at GBX 57.70.

Analysts Set New Price Targets

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

Ferrexpo Trading Down 3.3%

The firm’s 50 day simple moving average is GBX 54.75 and its two-hundred day simple moving average is GBX 53.13. The stock has a market capitalization of £414.23 million, a P/E ratio of -1.37, a P/E/G ratio of -0.18 and a beta of 1.26. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.33.

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.