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Authoritative Independent Monthly Share Selections Using Technical & Fundamental Analysis

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Ferrexpo - Surging iron ore prices trigger massive eps upgrades

April 2008

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • FXPO
  • Price:
  • 287p
Our comments that recently listed iron ore producer Ferrexpo would benefit from surging iron ore prices proved prescient, with the shares soaring over £1 ahead of our buy recommendation in January, before the recent pull back. The trigger for the re-rating has been news that a top steel maker agreed to pay Brazilian iron ore firm Vale a 65% increase over the previous year’s prices and this is expected to set the benchmark for the rest of the steel industry’s contract negotiations in what remains a tight market. In response, Ferrexpo’s broker, Deutsche Bank, has upped its eps forecasts by 32% for this year and 34% for next. In spite of recent volatility, the shares should make further progress. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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