Ferrexpo (LON:FXPO) Shares Up 12% - Here's What Happened

Key Points

• Ferrexpo plc's stock price rose by 12% during mid-day trading, reaching GBX 59.90 ($0.81), significantly increasing its trading volume by 91% compared to average daily levels.
• The company, which specializes in producing high-grade iron ore pellets, has a market cap of £434.07 million and operates with a P/E ratio of -7.85, indicating financial challenges amid ongoing geopolitical issues.
• Despite the ongoing war in Ukraine, Ferrexpo managed to produce 6.1 million tonnes of iron ore pellets in 2022, showcasing its resilience in the steel market.

Shares of Ferrexpo plc (LON:FXPO - Get Free Report) were up 12% during 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 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 debt-to-equity ratio of 0.33, a current ratio of 2.11 and a quick ratio of 2.20. The firm has a fifty day simple moving average of GBX 49 and a 200 day simple moving average of GBX 59.36. The company has a market cap of £418.55 million, a price-to-earnings ratio of -7.57, a P/E/G 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.