Rio Tinto Group (LON:RIO) Price Target Lowered to GBX 8,100 at Berenberg Bank

Key Points

• Berenberg Bank trimmed Rio Tinto Group’s price target to GBX 8,100 from GBX 8,200 while keeping a hold rating. The new target still implies about 20% upside from the current share price.
• Other analysts were mostly cautious: several firms maintained hold-equivalent views, while Royal Bank of Canada kept an underperform rating. Overall, MarketBeat shows a consensus rating of Reduce with an average price target of GBX 7,647.14.
• Rio Tinto stock was down 1.8% to GBX 6,746, and the shares have traded between a 12-month low of GBX 4,344.50 and a high of GBX 8,325. The company also reported a market cap of £109.71 billion and a P/E ratio of 11.09.

Rio Tinto Group (LON:RIO - Get Free Report) had its price objective lowered by investment analysts at Berenberg Bank from GBX 8,200 to GBX 8,100 in a research note issued to investors on Thursday,London Stock Exchange reports. The brokerage presently has a "hold" rating on the stock. Berenberg Bank's price target would suggest a potential upside of 20.07% from the company's current price.

Several other equities research analysts have also recently weighed in on RIO. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a GBX 7,400 price target on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Shore Capital Group cut their target price on shares of Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a "hold" rating on the stock in a research note on Tuesday, June 2nd. Royal Bank Of Canada reduced their price target on shares of Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an "underperform" rating on the stock in a research report on Thursday. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 8,500 price objective on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. upgraded Rio Tinto Group to a "neutral" rating and upped their target price for the stock from GBX 7,200 to GBX 8,280 in a report on Tuesday, May 26th. Six research analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Rio Tinto Group has an average rating of "Reduce" and a consensus price target of GBX 7,647.14.

Rio Tinto Group Stock Down 1.8%

RIO opened at GBX 6,746 on Thursday. Rio Tinto Group has a 12 month low of GBX 4,344.50 and a 12 month high of GBX 8,325. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 37.79. The business's 50-day moving average price is GBX 7,520.17 and its 200-day moving average price is GBX 7,087.25. The company has a market cap of £109.71 billion, a P/E ratio of 11.09, a P/E/G ratio of -0.64 and a beta of 0.65.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of Rio Tinto Group stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total transaction of £438.66. Corporate insiders own 0.10% of the company's stock.

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. 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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