Berenberg Bank Reaffirms 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 research analysts at Berenberg Bank in a report issued on Friday, August 1st, MarketBeat.com reports. They presently have a GBX 4,700 ($63.21) target price on the stock. Berenberg Bank's price target suggests a potential upside of 2.78% from the stock's previous close.

A number of other equities research analysts have also recently commented on RIO. Royal Bank Of Canada raised their target price on shares of Rio Tinto Group from GBX 4,700 ($63.21) to GBX 4,900 ($65.90) and gave the stock a "sector perform" rating in a research note on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto Group to a "hold" rating and reduced their price objective for the company from GBX 5,300 ($71.27) to GBX 5,100 ($68.59) in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rio Tinto Group from GBX 5,570 ($74.91) to GBX 5,450 ($73.29) and set an "overweight" rating on the stock in a research report on Thursday, July 31st. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of GBX 5,325 ($71.61).

Rio Tinto Group Stock Performance

LON RIO traded up GBX 74 ($1.00) on Friday, reaching GBX 4,573 ($61.50). 6,850,892 shares of the stock were exchanged, compared to its average volume of 5,708,191. Rio Tinto Group has a one year low of GBX 4,024.50 ($54.12) and a one year high of GBX 5,474 ($73.61). The firm has a market capitalization of £95.96 billion, a PE ratio of 8.66, a PEG ratio of -0.64 and a beta of 0.59. The company's 50-day simple moving average is GBX 4,394.52 and its two-hundred day simple moving average is GBX 4,591.66. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28.

About Rio Tinto Group