Ferrexpo (LON:FXPO) Trading Up 10.8% - Here's Why

Key Points

• Ferrexpo plc shares surged by 10.8% during trading on Friday, reaching a peak of GBX 61.90 ($0.83) and closing at GBX 59.40 ($0.80), significantly above its previous close of GBX 53.60 ($0.72).
• The trading volume increased by 135% from its average, with approximately 8,940,306 shares exchanged.
• Ferrexpo, headquartered in Switzerland, produces high grade iron ore pellets essential for the global steel industry and reported a production of 6.1 million tonnes in 2022 despite the ongoing war in Ukraine.

Ferrexpo plc (LON:FXPO - ) shares shot up 10.8% during mid-day trading on Friday . The stock traded as high as GBX 61.90 ($0.83) and last traded at GBX 59.40 ($0.80). 8,940,306 shares changed hands during mid-day trading, an increase of 135% from the average session volume of 3,802,694 shares. The stock had previously closed at GBX 53.60 ($0.72).

Ferrexpo Trading Up 10.8%

The firm has a market capitalization of £349.51 million, a PE ratio of -115.90, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.33. The company's 50-day simple moving average is GBX 53.97 and its 200 day simple moving average is GBX 53.03.

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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