Rio Tinto Group’s (RIO) “Buy” Rating Reiterated at Berenberg Bank

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reiterated by stock analysts at Berenberg Bank in a report released on Thursday, Digital Look reports. They presently have a GBX 8,700 price target on the stock. Berenberg Bank’s price target would suggest a potential upside of 28.39% from the stock’s previous close.

RIO has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a research note on Tuesday, October 6th. JPMorgan Chase & Co. cut their price objective on Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating for the company in a research report on Tuesday, July 28th. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 6,100 price objective on shares of Rio Tinto Group in a report on Wednesday, July 29th. Finally, Citigroup decreased 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 report on Friday, July 10th. One investment analyst has rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of GBX 7,721.43.

Rio Tinto Group Trading Down 2.1%

Shares of RIO stock traded down GBX 147 during trading on Thursday, hitting GBX 6,776. 622,414,000 shares of the stock traded hands, compared to its average volume of 33,002,465. Rio Tinto Group has a 52-week low of GBX 5,029 and a 52-week high of GBX 8,325. The firm has a market capitalization of £110.20 billion, a P/E ratio of 9.18, a price-to-earnings-growth ratio of -0.64 and a beta of 0.66. The firm’s fifty day moving average price is GBX 7,327.23 and its 200-day moving average price is GBX 7,340.76. The company has a debt-to-equity ratio of 34.91, a current ratio of 1.42 and a quick ratio of 1.34.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 4 shares of Rio Tinto Group stock in a transaction on Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total value of £265.60. 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.