RHI Magnesita (LON:RHIM) Sets New 1-Year Low After Analyst Downgrade

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

RHI Magnesita (LON:RHIM - Get Free Report)'s stock price hit a new 52-week low during trading on Thursday after Berenberg Bank lowered their price target on the stock from GBX 4,400 to GBX 4,000. Berenberg Bank currently has a buy rating on the stock. RHI Magnesita traded as low as GBX 2,410 ($32.00) and last traded at GBX 2,415 ($32.07), with a volume of 101685 shares changing hands. The stock had previously closed at GBX 2,630 ($34.92).

Separately, Royal Bank Of Canada reduced their price target on shares of RHI Magnesita from GBX 3,200 ($42.49) to GBX 3,000 ($39.84) and set a "sector perform" rating on the stock in a research note on Thursday.

RHI Magnesita Trading Up 0.7%

The business's 50 day moving average price is GBX 2,875.98 and its two-hundred day moving average price is GBX 3,140.98. 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 has a market capitalization of £1.29 billion, a price-to-earnings ratio of 7.10, 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.