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FEEXF - Ferrexpo: A Rare Beneficiary Of The Corona Crisis
Ferrexpo Plc Ord
1. Investment thesis
Ferrexpo's main business is the selling and distribution of iron ore pellets. The most important assets are located in Ukraine, a country which was involved in the Crimea Crisis in March 2014. As a result, Ferrexpo was heavily under pressure and lost a huge cash amount due to the collapse of its transactional bank. The stock price fell below 0.2 $ (!) in 2016 and the balance sheet deteriorated. However, Ferrexpo weathered the crisis because the iron ore miner achieved annual profits for the last seven years and rising iron ore prices