RHI Magnesita (LON:RHIM) Shares Up 2.1% – Here’s Why

RHI Magnesita (LON:RHIM) shot up 2.1% during mid-day trading on Wednesday . The stock traded as high as GBX 2,765 and last traded at GBX 2,735. 770,119 shares traded hands during trading, an increase of 597% from the average session volume of 110,432 shares. The stock had previously closed at GBX 2,680.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RHIM. Royal Bank Of Canada reaffirmed a “buy” rating and set a GBX 2,850 price objective on shares of RHI Magnesita in a report on Thursday, March 5th. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 2,765 price objective on shares of RHI Magnesita in a report on Wednesday, April 29th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of GBX 3,453.75.

RHI Magnesita Stock Performance

The company has a market capitalization of £1.29 billion, a P/E ratio of 15.45, a price-to-earnings-growth ratio of 2.03 and a beta of 1.49. The firm has a 50 day moving average price of GBX 2,581.30 and a two-hundred day moving average price of GBX 2,654.13. The company has a debt-to-equity ratio of 180.59, a quick ratio of 0.93 and a current ratio of 1.46.

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 over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices.