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

Ferrexpo plc (LON:FXPO)’s share price 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 ($0.98). Approximately 8,299,628 shares traded hands during trading, an increase of 114% from the average daily volume of 3,879,298 shares. The stock had previously closed at GBX 69.10 ($0.88).

Ferrexpo Trading Up 11.4 %

The firm’s fifty day simple moving average is GBX 100.43 and its 200 day simple moving average is GBX 73.55. The stock 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. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.20 and a current ratio of 2.11.

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.