RHI Magnesita (LON:RHIM) Price Target Cut to GBX 4,000 by Analysts at Berenberg Bank

Key Points

• Berenberg Bank has reduced the price target for RHI Magnesita from GBX 4,400 to GBX 4,000 while maintaining a "buy" rating, indicating a potential upside of 61.62% from the current stock price.
• The Royal Bank of Canada also lowered its price target from GBX 3,200 to GBX 3,000 and set a "sector perform" rating for RHI Magnesita.
• RHI Magnesita's shares fell by 5.9% on Wednesday, trading at GBX 2,475, with a market capitalization of £1.40 billion.

RHI Magnesita (LON:RHIM - Free Report) had its price objective lowered by Berenberg Bank from GBX 4,400 ($58.40) to GBX 4,000 ($53.09) in a research note released on Wednesday morning, Marketbeat.com reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Royal Bank Of Canada decreased their price objective on shares of RHI Magnesita from GBX 3,200 ($42.47) to GBX 3,000 ($39.82) and set a "sector perform" rating on the stock in a research report on Thursday.

RHI Magnesita Price Performance

Shares of RHIM stock traded down GBX 145 ($1.92) on Wednesday, hitting GBX 2,250 ($29.86). 32,239 shares of the stock traded hands, compared to its average volume of 42,946. The firm has a market cap of £1.28 billion, a price-to-earnings ratio of 7.05, a PEG ratio of 2.03 and a beta of 1.53. RHI Magnesita has a 52 week low of GBX 2,250 ($29.86) and a 52 week high of GBX 3,885 ($51.57). The firm has a 50 day simple moving average of GBX 2,875.98 and a two-hundred day simple moving average of GBX 3,144.45. The company has a debt-to-equity ratio of 152.96, a current ratio of 1.91 and a quick ratio of 0.93.

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.