Ferrexpo (LON:FXPO) Trading Up 9.8% - Here's What Happened

Key Points

• Ferrexpo's share price surged 9.8% during mid-day trading, reaching a high of GBX 60.91 ($0.82) before last trading at GBX 58 ($0.78).
• The trading volume increased by 115% compared to the average session volume, with over 8.4 million shares traded.
• Ferrexpo, a Swiss-based iron ore company, has been supplying the global steel industry for over 50 years and produced 6.1 million tonnes of iron ore pellets in 2022 despite the ongoing war in Ukraine.

Ferrexpo plc (LON:FXPO - )'s share price shot up 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). 8,444,530 shares traded hands during trading, an increase of 115% from the average session volume of 3,933,069 shares. The stock had previously closed at GBX 52.80 ($0.71).

Ferrexpo Stock Up 9.8%

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

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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