Citigroup Reiterates “Buy” Rating for Ferrexpo (FXPO)

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Ferrexpo (LON:FXPO)‘s stock had its “buy” rating restated by investment analysts at Citigroup in a report issued on Tuesday, September 25th. They currently have a GBX 280 ($3.66) target price on the iron ore producer’s stock. Citigroup’s price objective would suggest a potential upside of 24.17% from the company’s previous close.

Other research analysts have also issued research reports about the stock. HSBC raised shares of Ferrexpo to a “buy” rating and raised their target price for the company from GBX 250 ($3.27) to GBX 275 ($3.59) in a research note on Tuesday, June 19th. Deutsche Bank reduced their target price on shares of Ferrexpo from GBX 210 ($2.74) to GBX 200 ($2.61) and set a “hold” rating on the stock in a research note on Friday, August 3rd. Liberum Capital raised shares of Ferrexpo to a “hold” rating in a research note on Thursday, July 26th. JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Ferrexpo in a research note on Monday, September 10th. Finally, Barclays reduced their target price on shares of Ferrexpo from GBX 185 ($2.42) to GBX 140 ($1.83) and set an “underweight” rating on the stock in a research note on Wednesday, July 18th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Ferrexpo has a consensus rating of “Buy” and an average target price of GBX 237.88 ($3.11).

LON:FXPO traded up GBX 16 ($0.21) during mid-day trading on Tuesday, reaching GBX 225.50 ($2.95). 7,631,483 shares of the company were exchanged, compared to its average volume of 2,650,000. Ferrexpo has a 12 month low of GBX 136.88 ($1.79) and a 12 month high of GBX 326.60 ($4.27).

In other news, insider Simon Lockett purchased 50,000 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The shares were acquired at an average cost of GBX 171 ($2.23) per share, for a total transaction of £85,500 ($111,720.89).

About Ferrexpo

Ferrexpo plc mines for, develops, processes, produces, markets, exports, and sells iron ore pellets to the metallurgical industry worldwide. The company operates two open-pit mines and a processing plant near Kremenchug in Ukraine; a port in Odessa; a fleet of vessels operating on the Rhine and Danube waterways; and an ocean going vessel on international sea routes.

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Analyst Recommendations for Ferrexpo (LON:FXPO)

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