Ferrexpo (LON:FXPO) Shares Up 11.5% – Time to Buy?

Ferrexpo plc (LON:FXPO)’s share price was up 11.5% on Thursday . The stock traded as high as GBX 77.50 and last traded at GBX 77.30. Approximately 9,389,911 shares were traded during mid-day trading, an increase of 296% from the average daily volume of 2,371,332 shares. The stock had previously closed at GBX 69.30.

Analysts Set New Price Targets

Separately, Peel Hunt reissued a “hold” rating and issued a GBX 53 target price on shares of Ferrexpo in a report on Monday, November 10th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Ferrexpo presently has a consensus rating of “Hold” and an average price target of GBX 53.

Ferrexpo Stock Up 19.5%

The company has a market cap of £487.25 million, a P/E ratio of -1.62, a P/E/G ratio of -0.18 and a beta of 1.26. The company’s 50-day moving average is GBX 69.05 and its two-hundred day moving average is GBX 58.39. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.11 and a quick ratio of 2.20.

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.