Rio Tinto Group (LON:RIO) Given Buy Rating at Berenberg Bank

Berenberg Bank reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO) in a research note released on Wednesday morning, Marketbeat reports. They currently have a GBX 6,000 ($75.73) price objective on the stock.

A number of other research firms also recently commented on RIO. Citigroup reaffirmed a “neutral” rating on shares of Rio Tinto Group in a report on Friday, December 6th. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Rio Tinto Group from GBX 6,200 ($78.25) to GBX 6,000 ($75.73) and set a “buy” rating for the company in a research report on Monday, September 9th. Finally, Jefferies Financial Group restated a “buy” rating and issued a GBX 6,400 ($80.78) target price on shares of Rio Tinto Group in a research report on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of GBX 6,203.75 ($78.30).

Rio Tinto Group Stock Performance

Shares of RIO stock opened at GBX 4,900 ($61.85) on Wednesday. The stock has a market capitalization of £61.25 billion, a price-to-earnings ratio of 985.02, a PEG ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a one year low of GBX 4,509 ($56.91) and a one year high of GBX 5,910 ($74.59). The company’s 50-day simple moving average is GBX 5,034.01 and its 200-day simple moving average is GBX 5,074.13. The company has a debt-to-equity ratio of 25.01, a quick ratio of 1.34 and a current ratio of 1.70.

Insider Transactions at Rio Tinto Group

In related news, insider Simon Henry bought 200 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were acquired at an average cost of GBX 4,956 ($62.55) per share, for a total transaction of £9,912 ($12,510.41). Also, insider Jakob Stausholm sold 6,489 shares of Rio Tinto Group stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of GBX 4,988 ($62.96), for a total value of £323,671.32 ($408,521.17). Company insiders own 14.62% of the company’s stock.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.