RHI Magnesita (LON:RHIM) Hits New 52-Week Low – Here’s Why

Shares of RHI Magnesita (LON:RHIM) reached a new 52-week low on Tuesday . The company traded as low as GBX 2,020 ($27.15) and last traded at GBX 2,035 ($27.35), with a volume of 14786 shares changing hands. The stock had previously closed at GBX 2,040 ($27.42).

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RHIM shares. Royal Bank Of Canada cut their target price on shares of RHI Magnesita from GBX 3,200 to GBX 3,000 and set a “sector perform” rating for the company in a report on Thursday, July 31st. Berenberg Bank cut their target price on shares of RHI Magnesita from GBX 4,400 to GBX 4,000 and set a “buy” rating for the company in a report on Wednesday, July 30th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 2,885 price objective on shares of RHI Magnesita in a research note on Thursday, July 31st. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, RHI Magnesita presently has a consensus rating of “Hold” and a consensus price target of GBX 3,295.

RHI Magnesita Price Performance

The company has a market capitalization of £960.17 million, a PE ratio of 2,071.43, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The company has a quick ratio of 0.93, a current ratio of 1.91 and a debt-to-equity ratio of 152.96. The firm’s 50 day simple moving average is GBX 2,584.93 and its 200 day simple moving average is GBX 2,932.67.

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.