RHI Magnesita (LON:RHIM – Get Free Report)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a report issued on Wednesday, Marketbeat.com reports. They presently have a GBX 4,000 price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 28.82% from the stock’s current price.
RHI Magnesita Trading Up 10.1%
RHIM opened at GBX 3,105 on Wednesday. RHI Magnesita has a 12 month low of GBX 1,932 and a 12 month high of GBX 3,350. The stock has a market capitalization of £1.47 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 2.03 and a beta of 1.50. The company has a debt-to-equity ratio of 169.57, a current ratio of 1.48 and a quick ratio of 0.93. The business has a fifty day moving average price of GBX 2,868.50 and a 200 day moving average price of GBX 2,772.07.
Key RHI Magnesita News
Here are the key news stories impacting RHI Magnesita this week:
- Positive Sentiment: Takeover interest supports valuation: Vesuvius confirmed that it has made a latest unsolicited, non-binding approach of 551 pence per RHI Magnesita share. The proposal follows earlier approaches and keeps the possibility of a takeover premium in focus. Vesuvius Confirms Ongoing RHI Magnesita Pursuit
- Positive Sentiment: Potential counter-move raises strategic appeal: Reports say RHI Magnesita is seeking to acquire a competitor in a transaction valued at approximately €1.6 billion. The announcement may signal confidence in the company’s financial position and could increase its strategic importance, while also raising the prospect of competing corporate activity. RHI Magnesita Plans Competitor Acquisition
- Positive Sentiment: Broker remains bullish: Berenberg reaffirmed its “buy” rating and set a 4,000-pence price target, implying further upside from the recent trading level. The endorsement provides additional support for investor sentiment. RHI Magnesita Stock Rating Reaffirmed by Berenberg
- Neutral Sentiment: Execution and deal risks remain: Vesuvius’ proposal is non-binding, and any transaction would require agreement from RHI Magnesita’s board, financing, shareholder support and regulatory approvals. Separately, a €1.6 billion acquisition could increase leverage and integration risk if completed.
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 over 20,000 employees in 65 main production sites (including raw material sites), 12 recycling facilities and more than 70 sales offices.
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