Rio Tinto Group (LON:RIO) Price Target Raised to GBX 7,200

Key Points

• Citigroup raised its price target on Rio Tinto to GBX 7,200 (from GBX 7,000) while keeping a "neutral" rating, a target that implies roughly a 1.7% downside from the current share price.
• Analyst consensus remains a "Hold" with an average target of GBX 6,130; among recent coverage one analyst is Buy and four are Hold.
• RIO opened at GBX 7,327, trading near its 52-week high (GBX 7,575), with a market capitalization of £119.15 billion and a P/E of 12.04.

Rio Tinto Group (LON:RIO - Get Free Report) had its price target increased by equities researchers at Citigroup from GBX 7,000 to GBX 7,200 in a note issued to investors on Monday,Digital Look reports. The brokerage presently has a "neutral" rating on the stock. Citigroup's target price suggests a potential downside of 1.73% from the company's current price.

A number of other analysts also recently commented on RIO. Berenberg Bank reiterated a "hold" rating and issued a GBX 5,300 target price on shares of Rio Tinto Group in a report on Wednesday, January 21st. Royal Bank Of Canada boosted their target price on shares of Rio Tinto Group from GBX 6,000 to GBX 6,100 and gave the stock a "sector perform" rating in a report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, Rio Tinto Group has a consensus rating of "Hold" and an average target price of GBX 6,130.

Rio Tinto Group Stock Down 0.2%

RIO stock opened at GBX 7,327 on Monday. Rio Tinto Group has a 52 week low of GBX 4,110 and a 52 week high of GBX 7,575. The company has a market capitalization of £119.15 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of -0.64 and a beta of 0.64. The firm's 50-day moving average is GBX 6,965.38 and its two-hundred day moving average is GBX 6,093.12. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 39.51.

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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