Rio Tinto Group (LON:RIO) Given Consensus Recommendation of "Hold" by Brokerages

Key Points

• Rio Tinto has a consensus “Hold” rating from seven brokerages: five holds, one sell and one buy. The average 12-month price target is GBX 7,707.14.
• Recent analysts largely maintained neutral or hold views, while Berenberg upgraded the stock to “Buy” and raised its target to GBX 8,600; other firms made modest target-price reductions.
• Rio Tinto shares opened at GBX 7,531, with a market capitalization of approximately £122.48 billion and a 12-month trading range of GBX 4,554.50 to GBX 8,325.

Rio Tinto Group (LON:RIO - Get Free Report) has earned an average rating of "Hold" from the seven research firms that are covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is GBX 7,707.14.

A number of brokerages recently commented on RIO. Citigroup dropped their price target 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 note on Friday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a GBX 7,400 price objective on shares of Rio Tinto Group in a research note on Thursday, July 30th. JPMorgan Chase & Co. lowered their target price on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a "neutral" rating on the stock in a report on Tuesday, July 28th. Shore Capital Group cut their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a "hold" rating for the company in a report on Tuesday, June 2nd. Finally, Berenberg Bank raised Rio Tinto Group from a "hold" rating to a "buy" rating and raised their price target for the stock from GBX 8,100 to GBX 8,600 in a report on Thursday, July 30th.

Insider Transactions at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of the firm's stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total value of £265.60. Company insiders own 0.10% of the company's stock.

Rio Tinto Group Price Performance

Shares of LON:RIO opened at GBX 7,531 on Thursday. The company has a quick ratio of 1.34, a current ratio of 1.42 and a debt-to-equity ratio of 34.91. The firm has a market capitalization of £122.48 billion, a PE ratio of 10.20, a P/E/G ratio of -0.64 and a beta of 0.66. Rio Tinto Group has a twelve month low of GBX 4,554.50 and a twelve month high of GBX 8,325. The company has a 50-day moving average price of GBX 7,218.28 and a two-hundred day moving average price of GBX 7,289.66.

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.

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