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

Shares of RHI Magnesita (LON:RHIM) fell 2.4% during trading on Tuesday . The stock traded as low as GBX 2,030 and last traded at GBX 2,040.23. 19,481 shares traded hands during trading, a decline of 56% from the average session volume of 44,530 shares. The stock had previously closed at GBX 2,090.

Analyst Ratings Changes

Several research firms have recently commented on RHIM. Royal Bank Of Canada reduced their price target on shares of 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 reduced their price target on shares of 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 reaffirmed a “hold” rating and set a GBX 2,885 price target on shares of RHI Magnesita in a research report on Thursday, July 31st. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, RHI Magnesita has an average rating of “Hold” and a consensus target price of GBX 3,295.

RHI Magnesita Price Performance

The company has a current ratio of 1.91, a quick ratio of 0.93 and a debt-to-equity ratio of 152.96. The company’s fifty day moving average is GBX 2,066.14 and its two-hundred day moving average is GBX 2,549.03. The stock has a market cap of £965.07 million, a price-to-earnings ratio of 20.82, a P/E/G ratio of 2.03 and a beta of 1.53.

About RHI Magnesita

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.