Ferrexpo Plc (LON:FXPO) to Issue Dividend of $0.03

Ferrexpo Plc (LON:FXPO) announced a dividend on Thursday, August 3rd, Upcoming.Co.Uk reports. Shareholders of record on Thursday, August 10th will be paid a dividend of $0.03 per share by the iron ore producer on Friday, September 8th. This represents a yield of 0.95%. The ex-dividend date of this dividend is Thursday, August 10th. The official announcement can be seen at this link.

Ferrexpo Plc (LON FXPO) traded up 1.66% during trading on Friday, hitting GBX 274.90. 1,849,788 shares of the stock were exchanged. Ferrexpo Plc has a 12-month low of GBX 61.00 and a 12-month high of GBX 279.20. The stock has a 50 day moving average price of GBX 232.38 and a 200-day moving average price of GBX 183.15. The firm’s market capitalization is GBX 1.61 billion.

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In related news, insider Christopher Mawe bought 481 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was acquired at an average cost of GBX 173 ($2.25) per share, for a total transaction of £832.13 ($1,080.27).

A number of research firms have weighed in on FXPO. J P Morgan Chase & Co reaffirmed an “overweight” rating and issued a GBX 180 ($2.34) price objective on shares of Ferrexpo Plc in a research note on Monday, July 10th. Deutsche Bank AG dropped their price objective on shares of Ferrexpo Plc from GBX 280 ($3.63) to GBX 270 ($3.51) and set a “buy” rating on the stock in a research note on Thursday, June 22nd. Credit Suisse Group increased their target price on shares of Ferrexpo Plc from GBX 200 ($2.60) to GBX 250 ($3.25) and gave the company a “neutral” rating in a report on Tuesday, August 8th. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 230 ($2.99) target price on shares of Ferrexpo Plc in a report on Friday, July 14th. Finally, Liberum Capital reiterated a “sell” rating and issued a GBX 70 ($0.91) target price on shares of Ferrexpo Plc in a report on Thursday, August 3rd. Four analysts have rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of GBX 150.63 ($1.96).

About Ferrexpo Plc

Ferrexpo plc is an iron ore pellet producer. The Company produces, develops and markets its principal product, iron ore pellets, for sale to the metallurgical industry. The Company’s operations are vertically integrated from iron ore mining through to iron ore concentrate, and pellet production and subsequent logistics.

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