Ferrexpo (LON:FXPO) Stock Passes Above Two Hundred Day Moving Average – Here’s Why

Ferrexpo plc (LON:FXPO) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of GBX 55.76 and traded as high as GBX 77.80. Ferrexpo shares last traded at GBX 76.30, with a volume of 1,729,171 shares.

Wall Street Analyst Weigh In

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

Ferrexpo Trading Up 0.3%

The company has a 50 day moving average of GBX 63.80 and a 200-day moving average of GBX 55.76. The stock has a market cap of £448.95 million, a price-to-earnings ratio of -1.49, a price-to-earnings-growth ratio of -0.18 and a beta of 1.26. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.20 and a current ratio of 2.11.

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.