viewFerrexpo PLC

Deutsche Bank analyst highlights Ferrexpo’s 'very strong' production


Deutsche Bank analyst Rob Clifford examined Ferrexpo’s (LON:FXPO) third quarter production figures in a recent note to clients.

Clifford highlighted September’s performance, describing it as very strong, with 911,000 tonnes of iron pellets produced.

“With the share price trading well below our price target we maintain our buy recommendation”, Clifford said.

The analyst noted that September’s 911,000 tonne pellet production represented an annualised rate of 11.1 million tonnes per annum (Mtpa), which is a significant increase on the previous month.

To achieve the increase Ferrexpo bought in third party concentrate to process, the analyst noted.

“While not as profitable as processing its own material, it is clear that company is testing its real capacities before ramping up its mine,” Clifford said.

Ferrexpo owns an open-pit iron ore mine and the concentrating and pellet processing operations in central Ukraine.

Quick facts: Ferrexpo PLC

Price: 175.9 GBX

Market: LSE
Market Cap: £1.08 billion

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events


The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...



Amundi Physical Gold ETC: Europe's cheapest ETC now trading on the London...

Amundi Physical Gold ETC's Ashley Fagan who's head of ETF, Indexing & Smart Beta Development for UK and Ireland introduces the product to Proactive London's Andrew Scott. She says they've seen a great deal of demand from European as well as UK investors and that's what lead them to list...

8 hours, 41 minutes ago

2 min read