Royal Bank Of Canada Raises Rio Tinto Group (LON:RIO) Price Target to GBX 4,900

Key Points

• Royal Bank of Canada raised Rio Tinto Group's price target from GBX 4,700 to GBX 4,900, indicating a potential upside of 10.87% from the current stock price.
• Despite the upgrade, other analysts like JPMorgan and Deutsche Bank have lowered their price targets, reflecting a range of opinions with a consensus rating of "Moderate Buy" among analysts.
• Rio Tinto Group's stock has experienced volatility, with a 12-month high of GBX 5,474 and a low of GBX 4,024.50, demonstrating significant market fluctuations.

Rio Tinto Group (LON:RIO - Free Report) had its target price increased by Royal Bank Of Canada from GBX 4,700 ($62.38) to GBX 4,900 ($65.04) in a report published on Wednesday morning, Marketbeat reports. They currently have a sector perform rating on the stock.

A number of other equities analysts have also recently commented on RIO. Deutsche Bank Aktiengesellschaft reduced their price target on Rio Tinto Group from GBX 5,500 ($73.00) to GBX 5,300 ($70.35) and set a "buy" rating for the company in a report on Wednesday, July 2nd. Berenberg Bank reiterated a "hold" rating and set a GBX 4,700 ($62.38) price target on shares of Rio Tinto Group in a report on Thursday, July 17th. Finally, JPMorgan Chase & Co. reduced their price target on Rio Tinto Group from GBX 5,570 ($73.93) to GBX 5,450 ($72.34) and set an "overweight" rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of GBX 5,325 ($70.68).

Rio Tinto Group Stock Down 0.5%

RIO stock traded down GBX 21.39 ($0.28) during midday trading on Wednesday, hitting GBX 4,482.11 ($59.49). The company's stock had a trading volume of 2,294,416 shares, compared to its average volume of 5,730,252. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. Rio Tinto Group has a twelve month low of GBX 4,024.50 ($53.42) and a twelve month high of GBX 5,474 ($72.66). The company's fifty day moving average price is GBX 4,395.67 and its 200 day moving average price is GBX 4,605.02. The stock has a market capitalization of £94.05 billion, a P/E ratio of 8.49, a PEG ratio of -0.64 and a beta of 0.59.

About Rio Tinto Group