Ferrexpo (LON:FXPO) Shares Up 23% – Here’s What Happened

Ferrexpo plc (LON:FXPO)’s stock price rose 23% during trading on Thursday . The company traded as high as GBX 91.35 ($1.14) and last traded at GBX 90.50 ($1.13). Approximately 60,493,809 shares were traded during trading, an increase of 1,096% from the average daily volume of 5,057,300 shares. The stock had previously closed at GBX 73.60 ($0.92).

Ferrexpo Trading Up 24.1 %

The company’s 50 day simple moving average is GBX 102.72 and its two-hundred day simple moving average is GBX 70.70. 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 company has a market capitalization of £546.19 million, a price-to-earnings ratio of -1,304.50, a P/E/G 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.