Rio Tinto Group (LON:RIO) Receives "Hold" Rating from Deutsche Bank Aktiengesellschaft

Key Points

• Deutsche Bank reiterated a Hold rating on Rio Tinto with a GBX 6,900 price target, implying roughly a 7.48% downside from the previous close.
• Market consensus is also Hold (five analysts) with a consensus price target of GBX 6,860 after mixed updates from RBC, Citi, JPMorgan and Berenberg, whose targets ranged about GBX 6,400–7,200.
• Shares traded up 2.3% to GBX 7,458 (near the 12‑month high of GBX 7,575); the company has a market cap of £121.28 billion and a P/E of 12.26.

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "hold" rating restated by Deutsche Bank Aktiengesellschaft in a research note issued to investors on Wednesday,Digital Look reports. They currently have a GBX 6,900 price target on the stock. Deutsche Bank Aktiengesellschaft's target price would suggest a potential downside of 7.48% from the company's previous close.

A number of other equities analysts also recently weighed in on RIO. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a GBX 6,400 target price on shares of Rio Tinto Group in a research note on Friday, April 17th. Citigroup raised their price target on shares of Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the company a "neutral" rating in a research report on Monday, April 13th. JPMorgan Chase & Co. raised their price target on shares of Rio Tinto Group from GBX 7,030 to GBX 7,200 and gave the company a "neutral" rating in a research report on Wednesday. Finally, Berenberg Bank reduced their price target on shares of Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a "hold" rating for the company in a research report on Wednesday. Five analysts have rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of GBX 6,860.

Rio Tinto Group Stock Up 2.3%

Shares of LON RIO traded up GBX 168 on Wednesday, reaching GBX 7,458. 2,019,364 shares of the company's stock traded hands, compared to its average volume of 38,392,605. Rio Tinto Group has a 12 month low of GBX 4,110 and a 12 month high of GBX 7,575. The business's 50 day simple moving average is GBX 7,012.81 and its two-hundred day simple moving average is GBX 6,213.49. The company has a market cap of £121.28 billion, a price-to-earnings ratio of 12.26, a price-to-earnings-growth ratio of -0.64 and a beta of 0.64. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the business's stock in a transaction dated Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total value of £438.66. 0.10% of the stock is currently owned by company insiders.

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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