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

Ferrexpo logo with Basic Materials background

Key Points

  • Shares of Ferrexpo plc increased by 9.8%, trading at GBX 58 ($0.78) after reaching a high of GBX 60.91 ($0.82) during mid-day trading.
  • The company's trading volume saw a substantial rise of 115%, with approximately 8.4 million shares changing hands compared to the average daily volume of 3.9 million shares.
  • Ferrexpo, a Swiss-headquartered iron ore producer with assets in Ukraine, has been supplying the global steel industry for over 50 years, producing 6.1 million tonnes of iron ore pellets in 2022 despite challenges from the ongoing war.
  • Looking to export and analyze Ferrexpo data? Unlock 5 Weeks of MarketBeat All Access for Just $5. Claim Your Limited-Time Discount.

Shares of Ferrexpo plc (LON:FXPO - Get Free Report) rose 9.8% during mid-day trading on Saturday . The stock traded as high as GBX 60.91 ($0.82) and last traded at GBX 58 ($0.78). Approximately 8,444,530 shares were traded during trading, an increase of 115% from the average daily volume of 3,933,069 shares. The stock had previously closed at GBX 52.80 ($0.71).

Ferrexpo Trading Up 9.8%

The firm has a market capitalization of £428.90 million, a price-to-earnings ratio of -7.76, a P/E/G ratio of -0.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.11 and a quick ratio of 2.20. The firm's 50-day simple moving average is GBX 47.94 and its 200 day simple moving average is GBX 62.56.

Ferrexpo Company Profile

(Get Free Report)

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.

Further Reading

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