Ferrexpo (LON:FXPO) Shares Down 22.8% – Here’s Why

Ferrexpo plc (LON:FXPO)’s share price dropped 22.8% during trading on Tuesday . The company traded as low as GBX 50.30 ($0.63) and last traded at GBX 80 ($1.00). Approximately 11,269,184 shares traded hands during mid-day trading, an increase of 332% from the average daily volume of 2,609,469 shares. The stock had previously closed at GBX 103.60 ($1.29).

Ferrexpo Stock Down 22.8 %

The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.34. The stock has a 50 day simple moving average of GBX 102.69 and a 200 day simple moving average of GBX 70.55. The stock has a market cap of £478.51 million, a price-to-earnings ratio of -1,142.86, a PEG 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.