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

Key Points

• Deutsche Bank has downgraded Rio Tinto Group to a "hold" rating from a previous rating, with a target price decreased from GBX 5,300 ($70.27) to GBX 5,100 ($67.62).
• Several other analysts have also revised their target prices for Rio Tinto, with a current consensus rating of "Hold" and an average target of GBX 5,325 ($70.60).
• The stock traded down to GBX 4,418.50 ($58.59), reflecting a significant drop, and has a market capitalization of £92.72 billion.

Rio Tinto Group (LON:RIO - Get Free Report) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft to a "hold" rating in a research note issued on Wednesday, MarketBeat.com reports. They presently have a GBX 5,100 ($67.78) price target on the stock, down from their prior price target of GBX 5,300 ($70.44). Deutsche Bank Aktiengesellschaft's price objective would indicate a potential upside of 13.60% from the company's previous close.

Other equities analysts have also recently issued research reports about the stock. Royal Bank Of Canada raised their target price on shares of Rio Tinto Group from GBX 4,700 ($62.47) to GBX 4,900 ($65.12) and gave the company a "sector perform" rating in a research note on Wednesday, July 30th. Berenberg Bank restated a "hold" rating and set a GBX 4,700 ($62.47) price objective on shares of Rio Tinto Group in a research report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Rio Tinto Group from GBX 5,570 ($74.03) to GBX 5,450 ($72.43) and set an "overweight" rating for the company in a research report on Thursday. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Rio Tinto Group has an average rating of "Hold" and a consensus target price of GBX 5,325 ($70.77).

Rio Tinto Group Price Performance

Rio Tinto Group stock traded up GBX 7.39 ($0.10) during trading hours on Wednesday, hitting GBX 4,489.50 ($59.67). 5,396,392 shares of the company traded hands, compared to its average volume of 5,744,621. The firm has a market cap of £94.21 billion, a P/E ratio of 8.50, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The firm's 50-day simple moving average is GBX 4,395.67 and its two-hundred day simple moving average is GBX 4,600.44. Rio Tinto Group has a 1-year low of GBX 4,024.50 ($53.49) and a 1-year high of GBX 5,474 ($72.75).

About Rio Tinto Group