Ferrexpo (LON:FXPO) Shares Down 12.1% – Here’s Why

Ferrexpo plc (LON:FXPO) dropped 12.1% on Wednesday . The company traded as low as GBX 64.40 and last traded at GBX 68.50. Approximately 7,425,609 shares were traded 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 restated a “hold” rating and issued a GBX 53 target price on shares of Ferrexpo in a report on Monday, November 10th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of GBX 53.

Ferrexpo Stock Performance

The stock has a market capitalization of £390.15 million, a price-to-earnings ratio of -1.29, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company has a 50 day simple moving average of GBX 57.51 and a 200-day simple moving average of GBX 53.58. 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.