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FXPO Ferrexpo Plc

1.45 (1.99%)
01 Dec 2023 - 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 Shares Traded Last Trade
  1.45 1.99% 74.30 559,198 16:35:22
Bid Price Offer Price High Price Low Price Open Price
74.00 74.20 75.85 73.25 73.90
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Iron Ores USD 1.25B USD 220M USD 0.3678 2.01 442.62M
Last Trade Time Trade Type Trade Size Trade Price Currency
18:43:16 O 3,382 74.003 GBX

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Date Time Title Posts
30/11/202312:34Ferrexpo 2021 onwards. Big dividends but 35% Swiss Witholding Tax.1,539
31/8/201707:20Ferrexpo thread with charts765
21/9/201510:22BUY AND HOLD in Ferrexpo (FXPO) 2

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Posted at 02/12/2023 08:20 by Ferrexpo Daily Update
Ferrexpo Plc is listed in the Iron Ores sector of the London Stock Exchange with ticker FXPO. The last closing price for Ferrexpo was 72.85p.
Ferrexpo currently has 598,137,142 shares in issue. The market capitalisation of Ferrexpo is £442,621,485.
Ferrexpo has a price to earnings ratio (PE ratio) of 2.01.
This morning FXPO shares opened at 73.90p
Posted at 29/11/2023 13:55 by bozzy_s
The big worry last February was Russians getting hold of FXPO's mine. Looks like today's biggest threat is actually from Ukraine. $21 million bail price for a FXPO manager? That's utterly insane.

While I wish shareholders the best, it looks like Ukraine will steal FXPO's assets, one way or another.
Posted at 23/11/2023 11:13 by thags
I still think this bottomed out at 71p when adverse news or uncertainty has no impact on the share price that suggests to me someone is loading up. time will tell but i'm convinced we wont see 70p again barring some court ruling against fxpo or some licence being revoked
Posted at 02/11/2023 09:23 by 1knocker
Another who thinks posts on BBs move share prices, and that his losses are caused by downbeat posts!

OK, let's try it masergt's way:
I predict that FXPO will soon restart dividend payments and that its share price will rapidly recover to exceed its pre-war highs.

That is pretty upbeat. Just a matter of waiting a day or two for the share price to respond, and then I shall be able to congratulate masergt on his investment success, and he will be able to thank me for reviving the FXPO share price
Posted at 01/11/2023 11:11 by 1knocker
It is virtually impossible to get any reliable information as to the progress of the war, or what is going on in Ukraine. this is a propaganda war as much as a shooting war.

My impression though is that the Russians are doing nothing like as badly as is reported in our press, greatly improving their interdiction of Ukrainian military supply depots and chains. Also that the Ukrainians are using ammunition faster than the west is going to be able and willing to supply it for much longer. Most importantly, on both sides attacks seem to be costly, and US attention is turning toward the Middle East. Surely neither side is going to go on repeating WW1 type attacks for much longer? Absent successful ground offensives, how do the Ukrainians push the Russians back? That suggests to me that the Russians will be content with a protracted stalemate, waiting for western enthusiasm for funding the war to fade., and the Ukrainians will be unable to dislodge the Russians if they go on the defensive.

Sanctions usually lose their impact with the passage of time, as ways around them are found and new trading patterns are established, so it seems improbable that Russia will be forced out of economic necessity to withdraw and accept a peace on terms such as would result in the lifting of sanctions (ie accept defeat). Certainly not while Putin remains in control, as such a peace would result in his personal downfall.

I also wonder about Ukrainian enthusiasm. Military and civilian casualties have been high, the grain farming industry is suffering badly, and with so much foreign money and hardware coming in the scope for corruption must be huge. No doubt there will be many who feel they are suffering the casualties and economic and property losses, while others are doing very nicely out of the war.

The legal problems FXPO is facing may well be symptomatic of wider breakdown of the Ukranian economy, financial pressures, and desire /need personally and governmentally to take what you can wherever anything of value is to be had. No doubt 'shrinkage' from western (basically US) largesse is still the favoured route to riches, as that is probably regarded as a 'victimless crime' (rather as shoplifting from a supermarket is seen as victimless in a way that shoplifting from a corner shop is not)for private enterprise theft and corruption, but the government will have its eye on Ukrainian assets in the 'wrong' hands.

If If enthusiasm for paying for the war does dwindle in the US, you can be sure that there will be no enthusiasm at at all there for continuing to prop up Ukraine financially if the war petters out in stalemate. Times could get a whole lot rougher financially in Ukraine if the war ends, or winds down that they are now. In that event FXPO will look an even more attractive prize. I certainly don't see it resuming the payment of large dividends to foreigners any time soon!

Sadly, i don't regard FXPO as investable at present, nor likely to be for years.

I am very glad to have got out before the share price caught up with reality, and think the risks far, far outweigh the prospective (but distant and very uncertain) rewards even at the current price, probably at half the current price.

Sorry to be so gloomy, but i think folks ought to be looking to salvage what they can from the wreck of their FXPO holdings if they have not done so already, and certainly not throwing good money after bad.

I just don't see any settlement to this conflict which would be acceptable to all parties, nor. much prospect of it being ended by a decisive victory by either side. Possibly if the USA and China were agreed as to some 'solution', both the Russians and the Ukrainians would have to accept it, because neither can go on with the war without the support of their main sponsors, but at present the prospects of the USA and China agreeing about anything seem even more remote than Russia /Ukraine agreement. All rather depressing.
Posted at 18/7/2023 01:07 by 1knocker
The share price still has a long way to fall before it represents anything like a realistic valuation.

Looking back over the chart since the war clouds began to gather, it is quite extraordinary how long and by what a multiple the share price has defied gravity. Those still holding have to accept that they had ample opportunity to bale out at an amazingly favourable price. What planet buyers were on, search me.
Posted at 08/6/2023 19:42 by 1knocker
The plain fact is that the FXPO share price has defied gravity since the war clouds gathered, and it remains far too high now..

There was an extended opportunity to get out after the outbreak of the war.There was an opportunity to trade it (and to pick up a couple of dividends) subsequently. The difficulty was to guess when that trading range wold break, and thus when to get clear. I was lucky. I sold, I repurchased lower, I traded in and out a bit, and I got clear in the 160s and have not been back since.

I think there is a strong chance that those who hold or buy at the current share price will lose 50% or more of their capital, and that it is impossible to make a rational case for holding FXPO rather than a any one or more of a number of sound general miners paying decent dividends at their and FXPO's current SPs.

Just one man's view, but we have all made a packet out of FXPO over the years and it would be a shame for anyone to thrrow that away by buying /continuing to hold now.
Posted at 06/6/2023 12:28 by tigerbythetail
This is the (dangerous) unknowable.
It would be so simple if FXPO was a Ukrainian company. The Ukrainian government could seize / nationalise the 49.5% shareholding from Zhevago and life would go on much as before for the other FXPO shareholders.
But Zhevago owns 49.5% of a Swiss holding company (FXPO), which in turns owns the various producing subsidiaries in Ukraine.
Would a Swiss court do the Ukrainian government's will and seize Zhevago's shares? Highly unlikely. Why do you think FXPO is registered there - in the country that protects "private property rights" above all others on the planet?
So the Ukrainian government can only go after the Ukrainian subsidiaries. But that leaves FXPO's shareholders exposed as "collateral damage".
Certainly, there are a lot more twists to this tale. Not least the Supreme Court judgement that FXPO won a few weeks back will now be revisited, and in all likelihood, reversed. (Think how hard it would be for the judges to rule for FXPO after the bribery scandal!).
Do remember that Zhevago is very much a figure of the past in Ukraine, and highly unpopular.
Posted at 25/5/2023 20:18 by 1knocker
The FXPO share price defied gravity and common sense all last year. It even found a trading range for a while, and those of us who bought back in after selling on the invasion made a bit of money. When it was last at 160 I decided to stop pushing my luck and got out, since which time the price has gone steadily south. A bullet dodged.

For those of you with a shorter association with FXPO than mine, it used to be highly profitable and paid a huge dividend (subject unfortunately to Swiss withholding tax which was for practical purposes too much trouble to recover - over the years I have provided far too many free lunches to the Swiss), but the share price was always held down by 'Ukrainian' issues. A big chunk of my initial holding was bought at 56, and (with considerable trepidation) subsequently at 26. Take a look at the long term charts. And that was without a war, or even the hint of a war cloud!

So don't chase. Let the price come to you. If we can buy in the 50s again, 5 years afterwards it may once again be a jewel of our portfolios. But for that to happen, the market will need to be convinced that dividends will restart and will grow.
Posted at 24/3/2023 13:22 by 1knocker
thags, take care. To my mind FXPO is not attractive until it goes significantly under 100.

I was a long time FXPO holder, sold out when the war clouds gathered, have traded n and out a bit since, and finally had done when FXPO was priced in the 160s. Something very remarkable would have to happen to bring me back (save perhaps for a trading punt on 'peace' hype, and taking damn good care to be out again before the hype bubble burst). I am not anti-FXPO. It is a matter of regret to me that I consider it uninvestable.

The problem is, 'resolution' ain't gonna happen, certainly not any time soon, quite likely not in our lifetimes. The ferocity of the fighting may be (probably will be) dialled down, there may be some sort of a stalemate, even perhaps an armistice, but there is going to be no resolution, because Russia won't (to my mind can't) give up Crimea nor agree a formal, concluded 'peace' because in time of peace NATO troops could be stationed in Ukraine without risk of immediate conflict between them and Russian troops, which would risk starting a 'hot' WW3. The only sure way Russia has of preventing NATO troops being stationed in Ukraine (an existential threat to Russia as the eastern borer of Ukraine is EAST of Moscow, and it has been proved that Russia can barely contend with US weapons, let alone US weapons in the hands of US and other NATO troops) is to continue a state of war of some sort, as it won't happen in time of war when there would be an immediate prospect of fighting between Russian and US troops. Nor does the USA want to conclude its economic war with Russia. Nor politically could it do so and end sanctions without a concluded peace settling the borders. The USA is out to become the O&G supplier to the western world. giving it a firm hold on allies and every country not firmly in the Chinese camp, and at the same time giving itself a huge cheap energy economic advantage and making possible the 'onshoring' which both Democrats and Republicans advocate.

That scenario leaves Ukraine embattled, impoverished, and dependant upon US handouts for the foreseeable future, and as American enthusiasm for writing cheques wanes with time. Ukraine will look to extract revenue from its few cash generators like FXPO.

So DON'T buy FXPO (or anything else) in the expectation of a 'peace' share price windfall. There ain't going to be one, certainly not in the foreseeable future.

And why look to FXPO anyway, with so much else in the minerals field (and paying healthy dividends) to choose from?
Posted at 27/10/2022 10:42 by 1knocker
thags, read my last post !
As for the price, FXPO is a strange stock. For many years prior to the war it was subject to sharp falls on any new fear. When the war clouds were gathering, and for some time into this year, even when he general view was hat the invasion would be a roll over for Russia, the share price stayed ridiculously high. Then it collapsed, and recovered when business seemed to be proceeding fairly normally, dividends were paid, and Russia did not prevail. I wonder if we are seeing a re-run of that price action? The share price has held up, but the outlook for FXPO is pretty bleak, for the foreseeable future. Nor will a recession and falling steel consumption and ore rices help.If the share price were to catch up with events, it could surely easily fall to 75p. I can't see how FXPO is attractive, even as a long term speculation, much above that level.
Ferrexpo share price data is direct from the London Stock Exchange

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