Ferrexpo (LON:FXPO) Shares Down 11.8% – Here’s Why

Shares of Ferrexpo plc (LON:FXPO) were down 11.8% during mid-day trading on Wednesday . The company traded as low as GBX 64.40 and last traded at GBX 68.70. Approximately 30,764,867 shares traded hands during mid-day trading, an increase of 710% from the average daily volume of 3,800,032 shares. The stock had previously closed at GBX 77.90.

Wall Street Analyst Weigh In

Separately, Peel Hunt reiterated a “hold” rating and issued a GBX 53 target price 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 MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 53.

Ferrexpo Stock Performance

The stock has a market capitalization of £406.58 million, a price-to-earnings ratio of -1.35, a P/E/G ratio of -0.18 and a beta of 1.26. The company’s fifty day simple moving average is GBX 56.77 and its 200 day simple moving average is GBX 53.37. 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.