Ferrexpo Plc -16.5% potential downside indicated by JP Morgan

Ferrexpo Plc with ticker (LON:FXPO) now has a potential downside of -16.5% according to JP Morgan.



JP Morgan set a target price of 110 GBX for the company, which when compared to the Ferrexpo Plc share price of 128 GBX at opening today (27/09/2022) indicates a potential downside of -16.5%. Trading has ranged between 106 (52 week low) and 334 (52 week high) with an average of 1,505,137 shares exchanging hands daily. The market capitalisation at the time of writing is £757,462,086.

Ferrexpo plc is an iron ore pellet producer. The Company produces, develops and markets its principal product, iron ore pellets, for sale to the metallurgical industry. The Company’s operations are vertically integrated from iron ore mining through to iron ore concentrate, and pellet production and subsequent logistics. It operates approximately two mines and a processing plant near Kremenchug in Ukraine, and an interest in a port in Odessa, and sales. It operates a fleet of vessels operating on the Rhine and Danube waterways, and an ocean going vessel, which provides top off services, and operates on international sea routes. Its mineral properties lie within the Kremenchug Magnetic Anomaly and are being extracted at the Gorishne-Plavninskoye and Lavrikovskoye (GPL), and Yeristovskoye deposits. It has a customer base supplying steel mills in Austria, Slovakia, the Czech Republic, Germany and other European states, as well as in China, India, Japan, Taiwan and South Korea.