Royal Bank Of Canada Reiterates Sector perform Rating for Rio Tinto Group (LON:RIO)

Key Points

• Royal Bank of Canada reiterated a "sector perform" rating on Rio Tinto with a GBX 6,400 price target, implying roughly a 13.09% downside from the prior close.
• Analyst consensus remains a Hold (one Buy, four Holds) with an average price target of GBX 6,190, while Citigroup recently raised its target to GBX 7,200 and Berenberg reaffirmed GBX 5,300.
• Rio Tinto opened at GBX 7,364 on Friday, trades near its 12‑month high of GBX 7,575, and is valued at about £119.75 billion with a P/E of 12.1.

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "sector perform" rating reissued by research analysts at Royal Bank Of Canada in a research report issued to clients and investors on Friday,Digital Look reports. They currently have a GBX 6,400 price objective on the stock. Royal Bank Of Canada's target price points to a potential downside of 13.09% from the company's previous close.

Other research analysts also recently issued reports about the company. Citigroup boosted their target price on Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the stock a "neutral" rating in a report on Monday. Berenberg Bank reaffirmed a "hold" rating and set a GBX 5,300 target price on shares of Rio Tinto Group in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, Rio Tinto Group presently has an average rating of "Hold" and an average price target of GBX 6,190.

Rio Tinto Group Price Performance

LON RIO opened at GBX 7,364 on Friday. The stock has a 50-day simple moving average of GBX 6,986.43 and a 200 day simple moving average of GBX 6,144.38. Rio Tinto Group has a twelve month low of GBX 4,110 and a twelve month high of GBX 7,575. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.34 and a current ratio of 1.44. The stock has a market capitalization of £119.75 billion, a PE ratio of 12.10, a P/E/G ratio of -0.64 and a beta of 0.64.

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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