Rio Tinto Group (LON:RIO) Price Target Lowered to GBX 6,600 at Berenberg Bank

Rio Tinto Group (LON:RIO) had its price objective dropped by research analysts at Berenberg Bank from GBX 6,700 to GBX 6,600 in a report issued on Wednesday,Digital Look reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s price objective would suggest a potential downside of 10.75% from the company’s previous close.

A number of other equities research analysts have also recently commented on the company. Citigroup lifted their target price on Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 6,400 price target on shares of Rio Tinto Group in a research report on Friday, April 17th. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Rio Tinto Group has a consensus rating of “Hold” and a consensus price target of GBX 6,450.

Rio Tinto Group Stock Up 1.4%

RIO stock opened at GBX 7,395 on Wednesday. The stock has a market cap of £120.25 billion, a P/E ratio of 12.15, a P/E/G ratio of -0.64 and a beta of 0.64. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 39.51. The stock’s fifty day simple moving average is GBX 7,012.81 and its two-hundred day simple moving average is GBX 6,213.49. Rio Tinto Group has a 1-year low of GBX 4,110 and a 1-year high of GBX 7,575.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total value of £438.66. Company insiders own 0.10% of the company’s stock.

Rio Tinto Group Company Profile

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.