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05:00 on 21/09/2017

Current Price 305.33p | Bid 274.00p | Ask 309.00p | Change -5.02%

Company Overview

Ferrexpo plc's principal business is the mining, processing and sale of iron ore in the form of pellets for use in the production of steel. The Group's operations are vertically integrated. It processes all the iron ore it mines and produces substantially all the iron ore concentrate it processes. The Group currently has one operating open pit iron ore mine, together with a concentrator and pelletising plant, in the city of Komsomolsk, Poltava region, Ukraine. The Gorishne-Plavninskoe and Lavrikovskoe deposits, which the Group is currently mining, have more than 18 years of reserves at current levels of production, based on 491 million tonnes of proved and probable iron ore reserves. The Group has ready access to and licences in respect of additional iron ore reserves and resources in order to expand its current production of iron ore pellets. It is currently undertaking a feasibility study of the Yeristovskoe iron ore deposit adjacent to the current pit to confirm the most appropriate mining and processing methods to exploit the deposit and the expected returns. This deposit has additional probable reserves of 632 million tonnes of iron ore. Management believes there is significant potential to make fuller use of the existing ore body and production assets to increase mined output and raise pellet production levels. In 2006, the Group produced 8.6 million tonnes of iron ore pellets, compared with 7.8 million tonnes and 7.4 million tonnes in 2005 and 2004, respectively. According to AME Consulting Pty Limited ('AME'), the Group accounted for approximately 50 per cent. of total iron ore imports into Central and Eastern Europe in 2006. The Group expects to increase production to 16 million tonnes of pellets and 3.5 million tonnes of additional saleable concentrate (which the Group currently does not sell) by 2014. The Group is majority owned by The Minco Trust, one of the beneficiaries of which is Kostyantyn Zhevago, a Ukrainian national.

Stock Details

Shares in Issue 588,624,142
Market cap £ 459.13m
Sector Industrial Metals & Mining
Indices FTSE SmallCap
UK FTSE All Share

Financial Highlights Year Ended 31/12/2015

Turnover $961.00 million
Operating Profit $112.40 million
Dividend Yield 4.07
Dividend Per Share 3.30
Dividend Cover 5.55
P/E Ratio 13.81
» More Financials

Key Personnel

Kostyantin Zhevago CEO
Christopher Mawe CFO

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Price Summary

Mid Price ? 291.50p
Bid Price ? 274.00p
Ask Price ? 309.00p
Volume ? 0
Change Today -15.40p
% Change Today -5.02%
Open 0.00p
Previous Close 306.90p
Intraday High 0.00p
Intraday Low 0.00p
52 Week High 84.25p
52 Week Low 12.50p

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Broker Consensus

The above information represents a selection of the views and target prices published in the last 120 days by analysts in individual stocks. It is subject to change without notice and may not necessarily be the view held by Redmayne-Bentley.

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