RHI Magnesita (LON:RHIM) Shares Down 2.4% – Here’s What Happened

RHI Magnesita (LON:RHIM)’s stock price was down 2.4% during trading on Tuesday . The company traded as low as GBX 2,030 and last traded at GBX 2,040.23. Approximately 19,481 shares changed hands during trading, a decline of 56% from the average daily volume of 44,530 shares. The stock had previously closed at GBX 2,090.

Analyst Ratings Changes

A number of equities research analysts have recently commented on RHIM shares. Royal Bank Of Canada dropped their target price on RHI Magnesita from GBX 3,200 to GBX 3,000 and set a “sector perform” rating on the stock in a research report on Thursday, July 31st. Berenberg Bank dropped their target price on RHI Magnesita from GBX 4,400 to GBX 4,000 and set a “buy” rating on the stock in a research report on Wednesday, July 30th. Finally, Jefferies Financial Group restated a “hold” rating and set a GBX 2,885 target price on shares of RHI Magnesita in a research report on Thursday, July 31st. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of GBX 3,295.

RHI Magnesita Stock Down 2.4%

The firm has a market capitalization of £965.07 million, a PE ratio of 20.82, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The company has a quick ratio of 0.93, a current ratio of 1.91 and a debt-to-equity ratio of 152.96. The business has a 50-day moving average price of GBX 2,066.14 and a 200-day moving average price of GBX 2,549.03.

RHI Magnesita Company Profile

RHI Magnesita is the leading global supplier of high-grade refractory products, systems and solutions which are critical for high-temperature processes exceeding 1,200°C in a wide range of industries, including steel, cement, non-ferrous metals and glass. With a vertically integrated value chain, from raw materials to refractory products and full performance-based solutions, RHI Magnesita serves customers around the world, with around 22,000 employees in 47 main production sites, 9 recycling facilities and more than 70 sales offices.