Ferrexpo Plc (FXPO) Downgraded to Hold at HSBC Holdings plc
Ferrexpo Plc (LON:FXPO) was downgraded by research analysts at HSBC Holdings plc to a “hold” rating in a research note issued to investors on Friday. They currently have a GBX 225 ($2.97) price objective on the iron ore producer’s stock, down from their prior price objective of GBX 230 ($3.03). HSBC Holdings plc’s price objective indicates a potential downside of 9.35% from the company’s current price.
Several other research firms also recently weighed in on FXPO. Deutsche Bank AG reissued a “buy” rating and issued a GBX 270 ($3.56) price target on shares of Ferrexpo Plc in a research note on Friday. J P Morgan Chase & Co downgraded shares of Ferrexpo Plc to a “neutral” rating and upped their price objective for the company from GBX 180 ($2.37) to GBX 190 ($2.51) in a research note on Friday. Liberum Capital reaffirmed a “sell” rating and set a GBX 70 ($0.92) price objective on shares of Ferrexpo Plc in a research note on Thursday. Finally, Barclays PLC reaffirmed an “underweight” rating and set a GBX 130 ($1.71) price objective on shares of Ferrexpo Plc in a research note on Friday, July 14th. Four investment analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of GBX 144.38 ($1.90).
Shares of Ferrexpo Plc (LON FXPO) traded up 0.94% on Friday, hitting GBX 248.20. The stock had a trading volume of 3,442,073 shares. Ferrexpo Plc has a 1-year low of GBX 48.06 and a 1-year high of GBX 249.80. The company’s market capitalization is GBX 1.45 billion. The firm has a 50-day moving average of GBX 208.22 and a 200 day moving average of GBX 173.06.
In other news, insider Christopher Mawe acquired 481 shares of the business’s stock in a transaction dated Wednesday, May 31st. The shares were purchased at an average price of GBX 173 ($2.28) per share, with a total value of £832.13 ($1,097.65).
About Ferrexpo Plc
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.
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