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

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

Analyst Upgrades and Downgrades

Separately, Berenberg Bank decreased their target price on shares of 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 firm has a market cap of £1.45 billion, a P/E ratio of 957.94, a P/E/G ratio of 2.03 and a beta of 1.53. 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 stock’s 50 day simple moving average is GBX 3,267.97 and its two-hundred day simple moving average is GBX 3,399.11.

Insider Buying and Selling

In related news, insider Karl Sevelda purchased 1,000 shares of RHI Magnesita stock in a transaction on Friday, October 4th. The shares were bought at an average cost of GBX 3,390 ($42.90) per share, for a total transaction of £33,900 ($42,895.10). 42.23% of the stock is currently owned by corporate insiders.

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.