Berenberg Bank Increases Rio Tinto Group (LON:RIO) Price Target to GBX 5,200

Key Points

• Berenberg Bank raised its price target for Rio Tinto Group from GBX 4,700 to GBX 5,200, maintaining a "buy" rating on the stock.
• Other analysts have mixed opinions, with Deutsche Bank downgrading to a "hold" rating and lowering their target to GBX 5,100, while JPMorgan adjusted theirs to GBX 5,450.
• The stock currently has an average rating of "Moderate Buy" and an average target price of GBX 5,408.33, indicating a generally positive outlook among analysts.

Rio Tinto Group (LON:RIO - Get Free Report) had its price target upped by investment analysts at Berenberg Bank from GBX 4,700 to GBX 5,200 in a note issued to investors on Tuesday,Digital Look reports. The brokerage presently has a "buy" rating on the stock. Berenberg Bank's price target would indicate a potential upside of 3.24% from the stock's previous close.

Other equities research analysts also recently issued research reports about the stock. Deutsche Bank Aktiengesellschaft downgraded shares of Rio Tinto Group to a "hold" rating and decreased their target price for the stock from GBX 5,300 to GBX 5,100 in a research note on Wednesday, July 30th. JPMorgan Chase & Co. decreased their target price on shares of Rio Tinto Group from GBX 5,570 to GBX 5,450 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Finally, Royal Bank Of Canada increased their target price on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, Rio Tinto Group presently has an average rating of "Moderate Buy" and an average target price of GBX 5,408.33.

Rio Tinto Group Stock Performance

Shares of RIO traded up GBX 81.50 during mid-day trading on Tuesday, hitting GBX 5,037. 17,408,225 shares of the company's stock were exchanged, compared to its average volume of 5,147,464. Rio Tinto Group has a fifty-two week low of GBX 4,024.50 and a fifty-two week high of GBX 5,240. The firm has a market capitalization of £81.84 billion, a P/E ratio of 802.20, a P/E/G ratio of -0.64 and a beta of 0.59. The business's 50 day moving average is GBX 4,643.75 and its two-hundred day moving average is GBX 4,517.12. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28.

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.

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