Rio Tinto Group’s (RIO) “Underperform” Rating Reaffirmed at Royal Bank Of Canada

Rio Tinto Group (LON:RIO)‘s stock had its “underperform” rating reaffirmed by analysts at Royal Bank Of Canada in a note issued to investors on Wednesday,London Stock Exchange reports. They currently have a GBX 6,400 price objective on the stock. Royal Bank Of Canada’s price objective would suggest a potential downside of 8.98% from the stock’s current price.

Several other analysts have also recently weighed in on RIO. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 6,900 price target on shares of Rio Tinto Group in a report on Wednesday, April 22nd. 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 for the company in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. raised shares of Rio Tinto Group to a “neutral” rating and lifted their target price for the company from GBX 7,200 to GBX 8,280 in a research note on Tuesday, May 26th. Citigroup boosted their price target on shares of Rio Tinto Group from £760 to £810 and gave the company a “neutral” rating in a research report on Monday, June 8th. Finally, Berenberg Bank reissued a “hold” rating and issued a GBX 6,600 price target on shares of Rio Tinto Group in a research note on Thursday, June 4th. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Reduce” and an average price target of £177.97.

Rio Tinto Group Price Performance

RIO opened at GBX 7,031.29 on Wednesday. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. Rio Tinto Group has a 52-week low of GBX 4,248 and a 52-week high of GBX 8,325. The stock has a market capitalization of £114.35 billion, a PE ratio of 11.56, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The stock’s 50 day moving average price is GBX 7,633.47 and its 200-day moving average price is GBX 7,004.44.

Insider Transactions at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. 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.