RHI Magnesita (LON:RHIM) Stock Price Down 3.3% – Here’s What Happened

Shares of RHI Magnesita (LON:RHIM) dropped 3.3% during trading on Monday . The company traded as low as GBX 3,070 ($38.85) and last traded at GBX 3,090 ($39.10). Approximately 12,846 shares were traded during mid-day trading, a decline of 46% from the average daily volume of 23,572 shares. The stock had previously closed at GBX 3,195 ($40.43).

Wall Street Analyst Weigh In

Separately, Berenberg Bank lowered their target price on RHI Magnesita from GBX 4,300 ($54.41) to GBX 4,150 ($52.51) and set a “buy” rating for the company in a research note on Thursday, July 25th.

RHI Magnesita Stock Up 0.3 %

The company has a debt-to-equity ratio of 134.00, a current ratio of 1.91 and a quick ratio of 0.93. The company has a market cap of £1.45 billion, a price-to-earnings ratio of 957.94, a P/E/G ratio of 2.03 and a beta of 1.53. The firm has a 50-day moving average price of GBX 3,267.97 and a 200 day moving average price of GBX 3,399.11.

Insiders Place Their Bets

In other news, insider Karl Sevelda purchased 1,000 shares of the company’s stock in a transaction dated Friday, October 4th. The stock was bought at an average cost of GBX 3,390 ($42.90) per share, for a total transaction of £33,900 ($42,895.10). Corporate insiders own 42.23% of the company’s stock.

RHI Magnesita Company Profile

RHI Magnesita N.V., together with its subsidiaries, develops, produces, sells, installs, and maintains refractory products and systems used in industrial high-temperature processes worldwide. It offers magnesia spinel, dolomite, dolomite-magnesia, magnesia-chrome, alumina, alumina silicate, and mortars for the cement industry; shaped products based on silicon carbide, magnesia, zirconium, fireclay, and alumina; unshaped refractories; high-temperature insulation, and ceramic and metallic anchoring systems; induction and electric arc furnaces, AOD converters, dome and delta, ladles, isostatically pressed and tundish products, and slide gates.