Rio Tinto Group's (RIO) Underperform Rating Reiterated at Royal Bank Of Canada

Key Points

• Royal Bank of Canada reiterated its “underperform” rating on Rio Tinto and set a GBX 6,100 price target, implying 12.38% downside from the current share price.
• Analyst sentiment remains cautious: six analysts rate the stock “hold” and one rates it “sell,” resulting in an average “reduce” rating and a consensus target of GBX 7,635.71.
• Rio Tinto shares opened at GBX 6,962, with a market capitalization of approximately £113.22 billion and a one-year trading range of GBX 4,344.50 to GBX 8,325.

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "underperform" rating restated by Royal Bank Of Canada in a report issued on Wednesday,Digital Look reports. They currently have a GBX 6,100 price target on the stock. Royal Bank Of Canada's price target suggests a potential downside of 12.38% from the company's current price.

A number of other brokerages have also issued reports on RIO. Jefferies Financial Group reaffirmed a "hold" rating and set a GBX 8,500 target price on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a research note on Wednesday, July 1st. Berenberg Bank reduced their price objective on shares of Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a "hold" rating for the company in a research note on Thursday, July 16th. Shore Capital Group dropped 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 report on Tuesday, June 2nd. Finally, Citigroup cut their price target on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a "neutral" rating on the stock in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of GBX 7,635.71.

Rio Tinto Group Price Performance

Shares of LON:RIO opened at GBX 6,962 on Wednesday. Rio Tinto Group has a one year low of GBX 4,344.50 and a one year high of GBX 8,325. The stock has a fifty day moving average of GBX 7,331.10 and a 200-day moving average of GBX 7,134.12. The company has a market capitalization of £113.22 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 4 shares of the company's stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total value of £265.60. 0.10% of the stock is owned by corporate insiders.

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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