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

Ferrexpo plc (LON:FXPO)’s share price dropped 29.5% during trading on Thursday . The company traded as low as GBX 69.50 ($0.87) and last traded at GBX 70 ($0.88). Approximately 28,018,555 shares traded hands during 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 Price Performance

The company has a market cap of £517.64 million, a price-to-earnings ratio of -9.37, a PEG ratio of -0.18 and a beta of 1.26. The company’s 50 day moving average price is GBX 101.24 and its 200 day moving average price is GBX 73.47. The company has a current ratio of 2.11, a quick ratio of 2.20 and a debt-to-equity ratio of 0.33.

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.