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Prices & Quotes - UK Markets - Ferrexpo (FXPO)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 387.20p
Change Today:
5.80p
Market Cap:
2,279.15m
Sector:
Industrial Metals & Mining

Citi predicts rebound for European miners

By Sean Farrell

Date: Wednesday 04 Nov 2020

LONDON (ShareCast) - (Sharecast News) - Citi named Anglo American, Rio Tinto and Polymetal International as its top metals and mining picks as the bank predicted earnings recovery and higher dividends for the sector.
European miners' production results have beaten Citi analysts' expectations and copper equivalent production is in line with pre-Covid levels, they said.

Earnings in the sector should bounce back in the second half of 2020, analysts Ephrem Ravi and Krishnan Agarwal said. They forecast free cash flow more than doubling in the second half with higher spending offset by cash releases.

"Resilient operations, higher commodity prices [and] cost tailwinds from continued weakness in currencies are key drivers for earnings recovery in 2H20," the analysts said in a note to clients. "Inventory destocking should further cushion the cash flow."

As a result, total dividends for 2020 should increase by about 10% with payment likely in 2021, Ravi said. Norsk Hydro will resume its dividend and Glencore's cash flow should support payment of a dividend in 2021, he said.

Ravi said Anglo American, Rio Tinto and Polymetal were his top picks in the sector. He opened "catalyst watches" for Anglo American, Polymetal, Fresnillo and Ferrexpo.



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Ferrexpo Market Data

Currency UK Pounds
Price 387.20p
Change Today 5.80p
52 Week High 390.00p
52 Week Low 130.20p
Volume 1,199,650
Shares Issued 588.62m
Market Cap 2,279.15m
Beta 0.02

Performance Indicators

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What The Brokers Say

Strong Buy 4
Buy 0
Neutral 2
Sell 0
Strong Sell 3
Total 9
neutral
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Ferrexpo Dividends

  Latest Previous
  Final Special
Ex-Div 17-Jun-21 25-Mar-21
Paid 01-Jul-21 15-Apr-21
Amount 13.20¢ 39.60¢

Trades for 16-Apr-2021

Time Volume / Share Price
16:45 22 @ 387.00p
16:45 22 @ 387.00p
16:35 318,457 @ 387.20p
16:29 1 @ 387.00p
16:29 13 @ 387.00p

Ferrexpo Key Personnel