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FXPO Ferrexpo Plc

43.66
0.42 (0.97%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Ferrexpo Plc LSE:FXPO London Ordinary Share GB00B1XH2C03 ORD 10P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.42 0.97% 43.66 43.84 43.90 44.90 43.30 43.30 1,973,773 16:35:11
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores 1.25B 220M 0.3678 1.19 262.22M
Ferrexpo Plc is listed in the Iron Ores sector of the London Stock Exchange with ticker FXPO. The last closing price for Ferrexpo was 43.24p. Over the last year, Ferrexpo shares have traded in a share price range of 42.90p to 121.70p.

Ferrexpo currently has 598,137,142 shares in issue. The market capitalisation of Ferrexpo is £262.22 million. Ferrexpo has a price to earnings ratio (PE ratio) of 1.19.

Ferrexpo Share Discussion Threads

Showing 13551 to 13566 of 13575 messages
Chat Pages: 543  542  541  540  539  538  537  536  535  534  533  532  Older
DateSubjectAuthorDiscuss
28/3/2024
17:07
Ditto with BHP, also big dividend from Shell a couple of days earlier.

1knocker, maybe you could set up a new thread?

loganair
28/3/2024
15:57
Add Biden to your list, Bellbottom. It would probably substantially increase your chances of being made happy, given the decrepit state of the man!

I look around me and see more ideological nonsense than I used to!

Actuaully, I am having rather a good day - big dividends have come in from BHP, DEC and Imperial Brands plus a couple of smaller ones, so the portfolio income account ends the quarter looking pretty healthy. While is good to see the market up, that leaves me pretty relaxed if there is a market pull back as I have cash to invest.

Speaking of dividends, I think it would be a good move to drop the 'big dividends' assertion from the header here - hopefully to be restored in due course. For the present though, it risks leading FXPO newbies up the garden path.

1knocker
28/3/2024
15:22
1knocker you seem to have become more cynical over last few months/years. Sounds like you're having a particularly bad day today though.
What we need is for Putin to pop his clogs and Trump ditto. That would make me happy anyway.

bellbottom
28/3/2024
14:11
Well Loganair, it just shows how much you know about Ferrexpo. Why don't you read a couple of articles and enlighten yourself. Recognising climate change, going greener and diversity are all part of growth, sustainability and creating premium products (65%-69% fe high grade pellets) for a wider customer base globally, as well as encouraging investment from sources that may not traditionally have invested in mining. It makes complete business sense.

To say gender diversity and going greener is rubbish, is in fact rubbish!!

If you can't appreciate the very basics of their business development then why have you decided to invest/gamble in FXPO?

bellbottom
28/3/2024
13:45
I disagree, ability often does not come with training, often it's the natural ability of the person themselves.

I agree with 1knocker, all this gender diversity is just noise of smoke and mirrors and more often then not holds a company back. Same goes for all this going green rubbish, just more noise and more expense.

loganair
28/3/2024
13:29
I don't accept it's all nonsense. Certainly ability is key. But that ability comes with training and in many jobs women have as good an ability as men so why shouldn't there be gender equality where that is the case?
Ability comes with training and experience.
And being seen to be offering gender equality is an incentive to greater and wider investment and long term stability.
Ferrexpo needs to do everything it can to be the best but just as important to be seen to be the best.
With all their green credentials and modernisation they are doing most things right. I'm right behind them.

bellbottom
28/3/2024
11:55
Gender diversity at Ferrexpo - a bit of an aside but all adds to the overall picture of a fantastic company held back by mainly issues outside its control. Such a shame that so much potential and success has been thwarted. Hopefully they will come back stronger. Will we still be interested or willing to risk our pensions or ISAs in one year or two or five or.....?
bellbottom
26/3/2024
13:23
Zhevago owns just shy of 50% of Ferrexpo. Zhevago stepped down from Ferrexpo's board in December 2022 after he was detained in France at the request of Ukrainian authorities. Ukraine's state bureau of investigation said the matter was in relation to money laundering and the disappearance of USD113 million.


It seems to me the Ukrainian court is restricting the approximate same number of shares that Zhevago holds in Ferrexpo.

loganair
26/3/2024
13:19
Moody's Investors Service has affirmed the long-term corporate family rating (CFR) of Ferrexpo plc, a producer of iron ore pellets with operations in Ukraine, at "Caa3" with a negative outlook.

The company's probability of default rating (PDR) has also been affirmed at "Caa3," Ukrainian media reported, citing a press release from the rating agency.

The negative outlook reflects various legal actions involving the company and its largest shareholder, Konstantin Zhevago, that might have a negative impact on its business and liquidity, as well as significant problems due to the conflict between Russia and Ukraine, the agency said.

Although the freeze on the shares is not having any impact on the company's operations, Moody's said it will watch whether the prosecutor takes further actions that could ultimately hinder the successful implementation of the company's business model.

The "Caa3" CFR also reflects operational and logistical risks related to the ongoing conflict in Ukraine. The company has shown resilience so far, increasing production at two of its four pellet lines in 2023, but its ability to ship its product to its main markets remains uncertain, the agency said. The closure of Ukraine's Black Sea ports halted Ferrexpo exports through the Yuzhny port, which affected its revenue and its ability to maintain sales to customers beyond Europe, Moody's added.

The company's CFR also continues to be determined by the level of Ukraine's sovereign rating and the rating for senior unsecured foreign currency debt, and factors in the net cash position, which is characterized by minimal lease liabilities and the absence of financial debt.

Moody's expects Ferrexpo's EBITDA to gradually recover in 2024 after falling in 2023, especially if the company manages to successfully operate with at least two pellet lines for the whole year amid relatively stable iron ore prices. The agency expects production to improve this year after dropping to 4.2 million tonnes in 2023 from 6.2 million tonnes in 2022.

Ferrexpo's liquidity is adequate, based on net cash in the amount of about $108 million at the end of 2023, most of which is held in offshore accounts, the agency said.

Despite the drop in production and profit, Moody's expects Ferrexpo to generate low to moderately positive free cash flow in 2023-2024 thanks to the significant reduction of capital expenditures to a maintaining level of $100 million or less, limited tax payments and a balanced approach to working capital. Furthermore, the agency expects nonexistent or limited dividend payments. Ferrexpo does not have significant maturity periods or significant debt in the structure of its capital that require regular interest or principal payments.

loganair
26/3/2024
10:39
Ferrexpo announces new seizure of 49.5% of shares of its subsidiaries in Ukraine,
bellbottom
25/3/2024
08:59
That's just it. Good production news doesn't really matter here. And the war isn't really relevant either - despite the fetid fantasies of the pro-Putin fascist minority on these boards, the war is now a bloody stalemate, and it will never reach Poltava and FXPO. What matters is that the major shareholder of FXPO is seemingly despised by the Ukrainian authorities, who seem determined to take FXPO away from him. The only way they can do this is by acting against the Ukrainian registered subsidiaries via the trusted means of "lawfare". (I've had personal experience of this in Ukraine - trust me, it really isn't relevant if you are in the right. It's a question of who is strongest, and the state always is). So, Western minority shareholders here are exposed as collateral damage. From the Ukrainian point of view, they will just shrug and say "If you sleep with dogs, expect to get fleas".
tigerbythetail
25/3/2024
07:48
good production update as expected but legal situations sounds even worse
stockhunters
22/3/2024
11:30
Western institutions are reducing maybe because there is a possibility that within a year Ferrexpo's mines will be on Russian territory and will therefore be looked upon by the West as being a Russian asset.

If this is the case then I can the share price continuing to fall and easily see 30p or maybe even less.

This will now allow either an Ukrainian or Russian entity to pick up FXPO stock for less then 10p or even 5p on the pound as the share price is now down over 90% since its pre-conflict all time high.

loganair
22/3/2024
10:50
Roflmao...
Run by that charlatan Jezza Asher.

You're having a laugh.

When's the next dilution?? (He asked having seen at least 10 of them in the last 8 years!)

geckotheglorious
22/3/2024
10:44
Tower Resources (TRP) is the Stock to be in
riskyinvestor
21/3/2024
11:47
Ferrexpo's IPO in June 2007 was priced at 140 pence per share. After climbing to 260.9 pence, the shares plunged to 19.817 pence at the end of 2018, at the height of the global financial crisis. The shares then rebounded back to 329.6 pence in 2011 and fell back to an all-time low of 13.164 pence at the beginning of 2016 after the collapse of Finance & Credit, the bank controlled by Ferrexpo majority shareholder and CEO Konstantin Zhevago, amid a drop in world iron ore prices. The share price rose back to an all-time high of 480.8 pence in July 2021 amid a shortage of iron ore products on the world market, after which they again began to fall and the drop accelerated after February 2022.

The company's share price fell 5.5% to 44.92 pence on Wednesday. Ferrexpo's market capitalization is now about GBP284.35 million ($361.2 million at the current exchange rate).

Ferrexpo's net profit fell by two thirds to $27.01 million in the first half of 2023 on revenue down by about 65% to $334.01 million. EBITDA plunged 87% to $63.64 million. The company has not disclosed its financials for all of 2023.

Ferrexpo owns 100% of iron ore miners Ferrexpo Poltava Mining and Ferrexpo Yeristovo Mining, as well as 99.9% of Ferrexpo Belanovo Mining.

loganair
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