Berenberg Bank Reaffirms "Hold" Rating for Rio Tinto Group (LON:RIO)

Key Points

• Berenberg Bank has reaffirmed its "hold" rating for Rio Tinto Group, with a price objective of GBX 5,200, suggesting a potential upside of 1.15%.
• JPMorgan and Royal Bank of Canada have adjusted their target prices for Rio Tinto shares, with JPMorgan lowering it to GBX 6,100 and RBC raising it to GBX 4,900.
• The company’s stock recently traded at GBX 5,141 and has a market capitalization of £83.53 billion.

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "hold" rating reaffirmed by analysts at Berenberg Bank in a note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 5,200 price objective on the stock. Berenberg Bank's price objective would suggest a potential upside of 1.15% from the stock's current price.

Several other equities analysts have also weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an "overweight" rating on the stock in a report on Wednesday. Royal Bank Of Canada lifted their target price on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a "sector perform" rating in a report on Wednesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto Group to a "hold" rating and reduced their target price for the company from GBX 5,300 to GBX 5,100 in a report on Wednesday, July 30th. Two investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of GBX 5,516.67.

Rio Tinto Group Trading Up 1.2%

Shares of RIO traded up GBX 59 during mid-day trading on Wednesday, reaching GBX 5,141. The company had a trading volume of 1,955,412 shares, compared to its average volume of 4,998,786. The stock has a market cap of £83.53 billion, a price-to-earnings ratio of 818.76, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. The firm has a fifty day simple moving average of GBX 4,697.51 and a 200-day simple moving average of GBX 4,525.16. 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 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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