Rio Tinto Group (LON:RIO) Stock Rating Lowered by Berenberg Bank

Rio Tinto Group (LON:RIO - Get Free Report) was downgraded by equities research analysts at Berenberg Bank from a "buy" rating to a "hold" rating in a report issued on Wednesday, Marketbeat.com reports. They presently have a GBX 4,700 ($64.15) price target on the stock, down from their previous price target of GBX 6,200 ($84.62). Berenberg Bank's price objective indicates a potential upside of 10.16% from the stock's current price.

Separately, Deutsche Bank Aktiengesellschaft lowered their target price on Rio Tinto Group from GBX 5,500 ($75.06) to GBX 5,300 ($72.34) and set a "buy" rating for the company in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Rio Tinto Group currently has a consensus rating of "Hold" and an average target price of GBX 5,655 ($77.18).

Rio Tinto Group Trading Down 0.7%

Rio Tinto Group stock traded down GBX 29.50 ($0.40) during midday trading on Wednesday, reaching GBX 4,266.50 ($58.23). 851,231 shares of the stock traded hands, compared to its average volume of 6,249,417. The company has a 50-day simple moving average of GBX 4,420.77 and a two-hundred day simple moving average of GBX 4,636.24. Rio Tinto Group has a 12-month low of GBX 4,024.50 ($54.93) and a 12-month high of GBX 5,474 ($74.71). The firm has a market cap of £89.53 billion, a PE ratio of 8.08, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. 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