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

Key Points

• Ferrexpo plc shares surged 12% during mid-day trading, reaching a high of GBX 59.90 ($0.81) and closing at GBX 58.70 ($0.79).
• The trading volume was significantly high, with 7.6 million shares exchanged, marking a 91% increase over the average session volume.
• Despite challenges posed by the war in Ukraine, Ferrexpo produced 6.1 million tonnes of high-grade iron ore pellets in 2022 for the global steel industry.

Shares of Ferrexpo plc (LON:FXPO - ) shot up 12% during mid-day trading on Tuesday . The company traded as high as GBX 59.90 ($0.81) and last traded at GBX 58.70 ($0.79). 7,615,593 shares changed hands during mid-day trading, an increase of 91% from the average session volume of 3,983,499 shares. The stock had previously closed at GBX 52.40 ($0.71).

Ferrexpo Price Performance

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 firm has a market cap of £434.07 million, a P/E ratio of -7.85, a PEG ratio of -0.18 and a beta of 1.26. The business has a fifty day moving average of GBX 48.48 and a 200 day moving average of GBX 60.02.

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.

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