Ferrexpo (LON:FXPO) Shares Up 18.2% – Time to Buy?

Shares of Ferrexpo plc (LON:FXPO) rose 18.2% during mid-day trading on Thursday . The company traded as high as GBX 93.22 ($1.17) and last traded at GBX 87 ($1.09). Approximately 7,660,994 shares traded hands during trading, an increase of 153% from the average daily volume of 3,025,268 shares. The stock had previously closed at GBX 73.60 ($0.92).

Ferrexpo Stock Up 18.2 %

The company has a market capitalization of £520.38 million, a price-to-earnings ratio of -1,242.86, a P/E/G ratio of -0.18 and a beta of 1.26. The business has a fifty day simple moving average of GBX 102.66 and a two-hundred day simple moving average of GBX 70.83. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.34.

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.