Ferrexpo (LON:FXPO) Shares Up 11.5% – Still a Buy?

Shares of Ferrexpo plc (LON:FXPO) were up 11.5% on Thursday . The company traded as high as GBX 77.50 and last traded at GBX 77.30. Approximately 9,389,911 shares changed hands during 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 reiterated a “hold” rating and issued a GBX 53 target price on shares of Ferrexpo in a research note on Monday, November 10th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 53.

Ferrexpo Trading Up 19.5%

The stock has a 50-day moving average of GBX 69.05 and a 200 day moving average of GBX 58.39. The company has a quick ratio of 2.20, a current ratio of 2.11 and a debt-to-equity ratio of 0.33. The stock has a market cap of £487.25 million, a PE ratio of -1.62, a price-to-earnings-growth 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.