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

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

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 report on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of GBX 53.

Ferrexpo Price Performance

The stock has a market cap of £339.50 million, a PE ratio of -1.13, a PEG ratio of -0.18 and a beta of 1.26. The business’s 50-day simple moving average is GBX 54 and its 200-day simple moving average is GBX 53.05. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.33.

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.