Ferrexpo (LON:FXPO) Trading 12% Higher - Time to Buy?

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.

Ferrexpo plc (LON:FXPO - Get Free Report)'s stock price was up 12% during trading on Tuesday . The company traded as high as GBX 59.90 ($0.81) and last traded at GBX 58.70 ($0.79). Approximately 7,615,593 shares changed hands during mid-day 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 firm has a market cap of £418.55 million, a PE ratio of -7.57, 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 stock has a 50-day moving average price of GBX 49 and a 200 day moving average price of GBX 59.17.

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.