RHI Magnesita (LON:RHIM) Trading 2.7% Higher - Here's Why

RHI Magnesita (LON:RHIM - Get Free Report) was up 2.7% during mid-day trading on Monday . The stock traded as high as GBX 3,256.60 ($42.23) and last traded at GBX 3,230 ($41.89). Approximately 9,209 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 23,750 shares. The stock had previously closed at GBX 3,145 ($40.79).

Wall Street Analyst Weigh In

Separately, Berenberg Bank cut their price objective on shares of RHI Magnesita from GBX 4,300 ($55.76) to GBX 4,150 ($53.82) and set a "buy" rating for the company in a report on Thursday, July 25th.

RHI Magnesita Price Performance

The stock has a market capitalization of £1.52 billion, a P/E ratio of 1,006.23, a price-to-earnings-growth ratio of 2.03 and a beta of 1.53. The company has a debt-to-equity ratio of 134.00, a quick ratio of 0.93 and a current ratio of 1.91. The firm has a 50-day moving average price of GBX 3,325.67 and a 200 day moving average price of GBX 3,438.07.

Insider Transactions at RHI Magnesita

In other RHI Magnesita news, insider Karl Sevelda purchased 1,000 shares of the business's stock in a transaction on Friday, October 4th. The stock was acquired at an average cost of GBX 3,390 ($43.96) per share, for a total transaction of £33,900 ($43,963.17). Company insiders own 42.23% of the company's stock.

About RHI Magnesita

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.

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