Ferrexpo (LON:FXPO) Trading 22.4% Higher – Time to Buy?

Ferrexpo plc (LON:FXPO)’s stock price shot up 22.4% during mid-day trading on Thursday . The company traded as high as GBX 93.22 ($1.16) and last traded at GBX 90.10 ($1.12). 62,099,555 shares changed hands during mid-day trading, an increase of 1,113% from the average session volume of 5,119,059 shares. The stock had previously closed at GBX 73.60 ($0.91).

Ferrexpo Trading Up 9.4 %

The firm’s 50-day simple moving average is GBX 103.03 and its 200 day simple moving average is GBX 71.34. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.11 and a quick ratio of 2.20. The firm has a market capitalization of £569.43 million, a price-to-earnings ratio of -1,360.00, 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.