Ferrexpo (LON:FXPO) Trading Down 29.5% – Here’s What Happened

Shares of Ferrexpo plc (LON:FXPO) dropped 29.5% during trading on Thursday . The company traded as low as GBX 69.50 ($0.88) and last traded at GBX 70 ($0.88). Approximately 28,018,555 shares were traded during mid-day trading, an increase of 601% from the average daily volume of 3,995,703 shares. The stock had previously closed at GBX 99.30 ($1.25).

Ferrexpo Stock Performance

The stock’s 50-day moving average is GBX 99.87 and its 200-day moving average is GBX 73.71. The company has a current ratio of 2.11, a quick ratio of 2.20 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of £569.40 million, a price-to-earnings ratio of -10.30, a PEG 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.