Ferrexpo (LON:FXPO) Trading 11.4% Higher – Time to Buy?

Shares of Ferrexpo plc (LON:FXPO) rose 11.4% during mid-day trading on Friday . The company traded as high as GBX 81.50 ($1.03) and last traded at GBX 77 ($0.97). Approximately 8,299,628 shares changed hands during mid-day trading, an increase of 114% from the average daily volume of 3,879,298 shares. The stock had previously closed at GBX 69.10 ($0.87).

Ferrexpo Stock Performance

The stock has a 50-day moving average price of GBX 99.87 and a 200 day moving average price of GBX 73.87. 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 capitalization of £569.40 million, a price-to-earnings ratio of -10.30, a P/E/G ratio of -0.18 and a beta of 1.26.

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.