RHI Magnesita (LON:RHIM) Shares Down 1.2% - Should You Sell?

Key Points

• RHI Magnesita's share price has decreased by 1.2%, closing at GBX 2,020 ($26.91) with a marked increase in trading volume.
• Recent analyst reports have led to lowered price targets for the stock, with Berenberg Bank reducing their target from GBX 4,400 to GBX 4,000 and Jefferies maintaining a hold rating at GBX 2,885.
• Despite a disappointing stock performance, RHI Magnesita maintains a significant market cap of £955.50 million and a high PE ratio of 2,061.22, indicating potential concerns about valuation.

RHI Magnesita (LON:RHIM - Get Free Report)'s share price traded down 1.2% during trading on Tuesday . The stock traded as low as GBX 1,994 ($26.56) and last traded at GBX 2,020 ($26.91). 641,706 shares traded hands during mid-day trading, an increase of 1,217% from the average session volume of 48,726 shares. The stock had previously closed at GBX 2,045 ($27.24).

Wall Street Analyst Weigh In

RHIM has been the topic of a number of recent analyst reports. Berenberg Bank lowered their price target on shares of RHI Magnesita from GBX 4,400 to GBX 4,000 and set a "buy" rating on the stock in a report on Wednesday, July 30th. Jefferies Financial Group reissued a "hold" rating and set a GBX 2,885 target price on shares of RHI Magnesita in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada lowered their price target on RHI Magnesita from GBX 3,200 to GBX 3,000 and set a "sector perform" rating on the stock in a research report on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of GBX 3,295.

RHI Magnesita Stock Down 1.2%

The business has a fifty day simple moving average of GBX 2,115.98 and a two-hundred day simple moving average of GBX 2,643.59. 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 cap of £955.50 million, a PE ratio of 2,061.22, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53.

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.

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