Ferrexpo (LON:FXPO) Shares Up 9.8% - Here's What Happened

Key Points

• Ferrexpo's share price rose by 9.8% during mid-day trading, reaching as high as GBX 60.91 before closing at GBX 58.
• Trading volume surged by 115% compared to the average session, with over 8.4 million shares exchanged.
• The company, a producer of high-grade iron ore pellets, operates in Ukraine and produced 6.1 million tonnes of pellets in 2022 despite challenging conditions.

Ferrexpo plc (LON:FXPO - )'s share price shot up 9.8% during mid-day trading on Saturday . The company traded as high as GBX 60.91 ($0.82) and last traded at GBX 58 ($0.78). 8,444,530 shares traded hands during trading, an increase of 115% from the average session volume of 3,933,069 shares. The stock had previously closed at GBX 52.80 ($0.71).

Ferrexpo Stock Performance

The firm's 50-day moving average price is GBX 47.94 and its 200 day moving average price is GBX 62.87. 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 cap of £428.90 million, a price-to-earnings ratio of -7.76, a PEG 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.

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