Ferrexpo (LON:FXPO) Shares Up 8.1% – Here’s What Happened

Shares of Ferrexpo plc (LON:FXPO) shot up 8.1% during mid-day trading on Friday . The company traded as high as GBX 58.80 and last traded at GBX 57.70. 9,290,895 shares changed hands during trading, an increase of 158% from the average session volume of 3,597,335 shares. The stock had previously closed at GBX 53.40.

Wall Street Analyst Weigh In

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

Ferrexpo Price Performance

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 firm has a fifty day simple moving average of GBX 54 and a 200 day simple moving average of GBX 53.13. The company has a market capitalization of £339.50 million, a PE ratio of -1.13, a P/E/G ratio of -0.18 and a beta of 1.26.

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.