Berenberg Bank Has Lowered Expectations for Rio Tinto Group (LON:RIO) Stock Price

Rio Tinto Group (LON:RIO) had its target price cut by analysts at Berenberg Bank from GBX 8,200 to GBX 8,100 in a report released on Thursday,London Stock Exchange reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s target price would indicate a potential upside of 20.07% from the stock’s current price.

RIO has been the topic of a number of other research reports. Royal Bank Of Canada cut their price target on shares of Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating on the stock in a report on Thursday. Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 8,500 price target on shares of Rio Tinto Group in a report on Tuesday, June 9th. JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and boosted their target price for the stock from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Citigroup lowered their target price on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and an average target price of GBX 7,647.14.

Rio Tinto Group Stock Down 1.8%

LON:RIO opened at GBX 6,746 on Thursday. The firm has a market cap of £109.71 billion, a P/E ratio of 11.09, a P/E/G ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. Rio Tinto Group has a fifty-two week low of GBX 4,344.50 and a fifty-two week high of GBX 8,325. The firm has a 50-day simple moving average of GBX 7,520.17 and a two-hundred day simple moving average of GBX 7,087.25.

Insider Transactions at Rio Tinto Group

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

About Rio Tinto Group

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.