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

Key Points

• Berenberg Bank has reaffirmed a "hold" rating for Rio Tinto Group, setting a price target of GBX 4,700 ($62.41), indicating a potential upside of 5.00% from the previous close.
• Multiple analysts have revised their ratings, with Deutsche Bank lowering their target to GBX 5,100 ($67.72) and JPMorgan Chase setting an "overweight" rating while adjusting their target to GBX 5,450 ($72.37).
• Despite mixed ratings, Rio Tinto Group has an average consensus rating of "Hold" with a price target of GBX 5,325 ($70.71) according to MarketBeat data.

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "hold" rating reaffirmed by stock analysts at Berenberg Bank in a note issued to investors on Friday, MarketBeat Ratings reports. They currently have a GBX 4,700 ($62.41) price objective on the stock. Berenberg Bank's price target points to a potential upside of 5.00% from the company's previous close.

Several other research firms have also issued reports on RIO. Deutsche Bank Aktiengesellschaft lowered Rio Tinto Group to a "hold" rating and lowered their price target for the stock from GBX 5,300 ($70.38) to GBX 5,100 ($67.72) in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lowered their price target on Rio Tinto Group from GBX 5,570 ($73.96) to GBX 5,450 ($72.37) and set an "overweight" rating for the company in a research report on Thursday. Finally, Royal Bank Of Canada lifted their price target on Rio Tinto Group from GBX 4,700 ($62.41) to GBX 4,900 ($65.06) and gave the stock a "sector perform" rating in a research report on Wednesday, July 30th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rio Tinto Group presently has an average rating of "Hold" and a consensus target price of GBX 5,325 ($70.71).

Rio Tinto Group Price Performance

RIO opened at GBX 4,476 ($59.43) on Friday. The stock has a 50-day moving average price of GBX 4,395.67 and a 200-day moving average price of GBX 4,600.44. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market cap of £93.92 billion, a PE ratio of 8.47, a P/E/G ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 1 year low of GBX 4,024.50 ($53.44) and a 1 year high of GBX 5,474 ($72.69).

About Rio Tinto Group

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.