Ferrexpo (LON:FXPO) Shares Up 11.4% – Here’s Why

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

Ferrexpo Trading Up 11.4 %

The firm has a 50-day moving average of GBX 99.87 and a 200-day moving average of GBX 73.71. 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 firm has a market capitalization of £569.40 million, a P/E ratio of -10.30, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26.

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.