|Bid||74.30 x 0|
|Ask||74.60 x 0|
|Day's range||73.65 - 77.95|
|52-week range||72.00 - 175.31|
|Beta (5Y monthly)||1.42|
|PE ratio (TTM)||3.24|
|Earnings date||02 Aug 2023|
|Forward dividend & yield||N/A (N/A)|
|Ex-dividend date||16 Jun 2022|
|1y target est||1.47|
The group said Board Chair Lucio Genovese will act as executive chair on an interim basis and assume leadership of the company from July 1. The change comes as Ferrexpo has had to scale down production in Ukraine since its conflict with Russia led to severe logistical constraints and damages to Ukraine's electrical infrastructure.
The group, which has all its operations in Ukraine, said it produced 900,000 tonnes of iron ore pellets in the first quarter, compared with 420,000 tonnes in the fourth quarter last year. Ferrexpo's operations have been impacted by the Russian invasion and the ensuing conflict as severe logistical constraints and damages to Ukraine's electrical infrastructure have forced the miner to scale down production. The group's mining activities began slumping in the second quarter last year due to the constraints and as European customers — particularly steelmakers that use iron ore pellets to produce steel — cut purchases.
Ferrexpo, the world's third-largest exporter of iron ore pellets, has all its operations in Ukraine, and has been facing disruptions due to the conflict in the country. Ferrexpo said it intends to maintain its global inventory of finished iron ore pellets at a stockpile level in line with previous years, but warned this might not be possible due to logistical difficulties. The group added that if it could increase its inventory of pellets, it might elect to moderate production volumes this year to ensure a drawdown in its stockpiles.