Ferrexpo (LON:FXPO) Trading 11.3% Higher – Still a Buy?

Ferrexpo plc (LON:FXPO)’s share price was up 11.3% on Wednesday . The stock traded as high as GBX 54.30 and last traded at GBX 53.60. Approximately 3,047,512 shares changed hands during mid-day trading, a decline of 15% from the average daily volume of 3,573,707 shares. The stock had previously closed at GBX 48.15.

Analyst Upgrades and Downgrades

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

Ferrexpo Stock Up 11.3%

The firm’s 50-day simple moving average is GBX 53.86 and its 200 day simple moving average is GBX 53.27. 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 company has a market capitalization of £315.38 million, a PE ratio of -1.05, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26.

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.