RHI Magnesita (LON:RHIM) Given New GBX 4,000 Price Target 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 decreased by Berenberg Bank from GBX 4,400 ($58.48) to GBX 4,000 ($53.16) in a report issued on Wednesday, MarketBeat.com reports. Berenberg Bank currently has a buy rating on the stock.

Separately, Royal Bank Of Canada decreased their price target on shares of RHI Magnesita from GBX 3,200 ($42.53) to GBX 3,000 ($39.87) and set a "sector perform" rating for the company in a report on Thursday.

RHI Magnesita Stock Up 1.8%

Shares of RHIM stock traded up GBX 40 ($0.53) during trading on Wednesday, hitting GBX 2,290 ($30.44). 27,145 shares of the company were exchanged, compared to its average volume of 42,840. The company has a debt-to-equity ratio of 152.96, a quick ratio of 0.93 and a current ratio of 1.91. The firm has a market capitalization of £1.30 billion, a price-to-earnings ratio of 7.18, a P/E/G ratio of 2.03 and a beta of 1.53. The business's 50-day simple moving average is GBX 2,875.98 and its 200 day simple moving average is GBX 3,140.98. RHI Magnesita has a twelve month low of GBX 2,250 ($29.90) and a twelve month high of GBX 3,885 ($51.63).

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.