Ferrexpo (LON:FXPO) Trading 12% Higher - Here's What Happened

Key Points

• Ferrexpo plc shares surged by 12% on Tuesday, reaching a high of GBX 59.90 ($0.81), significantly increasing trading volume to 7,615,593 shares.
• The company is a Swiss iron ore producer with operations in Ukraine, specializing in high-grade iron ore pellets crucial for the global steel industry.
• Despite challenges posed by the ongoing conflict in Ukraine, Ferrexpo produced 6.1 million tonnes of iron ore pellets in 2022.

Ferrexpo plc (LON:FXPO - Get Free Report)'s stock price rose 12% during mid-day trading on Tuesday . The stock traded as high as GBX 59.90 ($0.81) and last traded at GBX 58.70 ($0.79). Approximately 7,615,593 shares traded hands during mid-day trading, an increase of 91% from the average daily volume of 3,983,499 shares. The stock had previously closed at GBX 52.40 ($0.71).

Ferrexpo Stock Performance

The company has a market cap of £418.55 million, a P/E ratio of -7.57, a PEG ratio of -0.18 and a beta of 1.26. The company has a 50 day moving average price of GBX 49 and a 200-day moving average price of GBX 59.17. 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.