Berenberg Bank Cuts Rio Tinto Group (LON:RIO) Price Target to GBX 8,100

Rio Tinto Group (LON:RIO) had its target price decreased by Berenberg Bank from GBX 8,200 to GBX 8,100 in a report released on Thursday morning, Marketbeat Ratings reports. Berenberg Bank currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on RIO. Royal Bank Of Canada cut their price target on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating for the company in a research note on Thursday. Citigroup lowered their price objective on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 7,400 price objective on shares of Rio Tinto Group in a research note on Wednesday, July 1st. Shore Capital Group cut their target price on 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. Finally, JPMorgan Chase & Co. raised 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. Six analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of GBX 7,647.14.

Rio Tinto Group Stock Down 0.8%

RIO opened at GBX 6,685.43 on Thursday. 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 fifty-two week low of GBX 4,344.50 and a fifty-two week high of GBX 8,325. The firm’s fifty day moving average is GBX 7,483.12 and its 200 day moving average is GBX 7,090.51. The stock has a market cap of £108.72 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65.

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.