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Prices & Quotes - UK Markets - Ferrexpo (FXPO)

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

Ferrexpo sees 22% jump in iron ore production

By Abigail Townsend

Date: Tuesday 12 Jan 2021

LONDON (ShareCast) - (Sharecast News) - Ferrexpo reported a jump in quarterly production on Tuesday after the successful ramp up of its concentrator expansion project.
Updating on fourth-quarter trading and production, the Swiss-based company, which has assets in Ukraine and is listed in London, said total ire ore production rose 22% quarter-on-quarter to 3.1m tonnes.

Total full-year production was 11.2mt, up 7% on the previous year, while production of high-quality 65% and 67% pellets represented 99% of total pellet production, up slightly on 2019's figure of 96%.

Total full-year sales volume was 12.1mt, ahead 18% on 2019, while the group net cash position at the year-end was $4m, which the group attributed to its "strong financial and operational performance in 2020".

Ferrexpo mines, processes and sells iron ore pellets to the steel industry. It is the world's third-largest exporter of pellets with a market share of around 9%.

Peel Hunt said: "The completion of incremental capacity in the plant has seen production at an annualised rate of just over 12mt pa for the first time.

"The fourth-quarter did include a small volume of 67% direct reduction pellets, having shut down production of 62% pellets earlier in the year. Management also indicated that the balance sheet has swung to a small net cash position, a large shift from the $174m net debt position at 30 June."

As at 1215 GMT, shares in Ferrexpo were ahead 1% at 342.0p.

Ferrexpo also announced on Tuesday that it had appointed Liberum Capital financial advisor and corporate broker.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

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
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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