Royal Bank Of Canada Cuts RHI Magnesita (LON:RHIM) Price Target to GBX 3,000

Key Points

• Royal Bank Of Canada has lowered its price target for RHI Magnesita from GBX 3,200 to GBX 3,000, reflecting a potential upside of 21.46% from the current stock price.
• The stock currently trades at GBX 2,470, with a market cap of £1.40 billion and a PE ratio of 7.74.
• RHI Magnesita is a leading global supplier of high-grade refractory products, crucial for industries like steel and cement, employing approximately 22,000 people across 47 production sites.

RHI Magnesita (LON:RHIM - Get Free Report) had its price objective cut by stock analysts at Royal Bank Of Canada from GBX 3,200 ($42.47) to GBX 3,000 ($39.82) in a report issued on Thursday, MarketBeat reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price target suggests a potential upside of 33.33% from the stock's previous close.

RHI Magnesita Stock Down 6.1%

LON RHIM traded down GBX 145 ($1.92) during midday trading on Thursday, hitting GBX 2,250 ($29.86). 32,239 shares of the company traded hands, compared to its average volume of 42,946. The company has a debt-to-equity ratio of 152.96, a current ratio of 1.91 and a quick ratio of 0.93. The company has a market cap of £1.28 billion, a PE ratio of 7.05, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The company's 50-day simple moving average is GBX 2,875.98 and its 200-day simple moving average is GBX 3,144.45. RHI Magnesita has a 52 week low of GBX 2,250 ($29.86) and a 52 week high of GBX 3,885 ($51.57).

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.