Royal Bank Of Canada Reaffirms “Underperform” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “underperform” rating reissued by analysts at Royal Bank Of Canada in a note issued to investors on Wednesday,Digital Look reports. They presently have a GBX 6,100 target price on the stock. Royal Bank Of Canada’s price target suggests a potential downside of 12.38% from the stock’s current price.

RIO has been the subject of a number of other reports. Citigroup reduced their target price on shares of 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. JPMorgan Chase & Co. cut their price target on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a report on Tuesday. 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. Berenberg Bank decreased their price objective on shares of Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a “hold” rating for the company in a report on Thursday, July 16th. Finally, Shore Capital Group cut their target price on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating on the stock in a report on Tuesday, June 2nd. Six analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Reduce” and an average target price of GBX 7,635.71.

Rio Tinto Group Stock Up 1.4%

RIO opened at GBX 6,962 on Wednesday. The company has a market capitalization of £113.22 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 37.79, a current ratio of 1.44 and a quick ratio of 1.34. 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 business has a 50-day moving average of GBX 7,331.10 and a 200-day moving average of GBX 7,134.12.

Insider Activity

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

Rio Tinto Group Company Profile

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.