Berenberg Bank Reaffirms “Buy” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Berenberg Bank in a research note issued to investors on Thursday, Digital Look reports. They presently have a GBX 8,700 price target on the stock. Berenberg Bank’s price objective would suggest a potential upside of 30.36% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. JPMorgan Chase & Co. dropped their target price on Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a report on Tuesday, July 28th. Citigroup decreased their price target on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a research note on Friday, July 10th. Royal Bank Of Canada reissued an “underperform” rating and issued a GBX 6,100 price objective on shares of Rio Tinto Group in a research note on Wednesday, July 29th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 7,400 price objective on shares of Rio Tinto Group in a report on Tuesday, October 6th. One research analyst has rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of GBX 7,721.43.

Rio Tinto Group Trading Down 3.6%

Rio Tinto Group stock opened at GBX 6,673.84 on Thursday. Rio Tinto Group has a 12-month low of GBX 5,029 and a 12-month high of GBX 8,325. The company has a debt-to-equity ratio of 34.91, a current ratio of 1.42 and a quick ratio of 1.34. The stock has a market capitalization of £108.54 billion, a PE ratio of 9.04, a price-to-earnings-growth ratio of -0.64 and a beta of 0.66. The firm has a 50 day simple moving average of GBX 7,327.23 and a 200-day simple moving average of GBX 7,340.76.

Insider Activity at Rio Tinto Group

In other news, insider Peter Cunningham sold 4 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total transaction of £265.60. Company insiders own 0.10% of the company’s stock.

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.