Rio Tinto Group (LON:RIO) Lowered to Hold at Berenberg Bank

Berenberg Bank cut shares of Rio Tinto Group (LON:RIO) from a buy rating to a hold rating in a report issued on Wednesday morning, MarketBeat.com reports. They currently have GBX 5,800 ($73.58) price target on the stock, down from their prior price target of GBX 5,900 ($74.84).

Several other analysts have also recently commented on RIO. JPMorgan Chase & Co. reduced their target price on Rio Tinto Group from GBX 6,630 ($84.11) to GBX 6,610 ($83.85) and set an overweight rating on the stock in a report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reiterated a buy rating and issued a GBX 6,200 ($78.65) target price on shares of Rio Tinto Group in a report on Tuesday, June 18th. Citigroup reiterated a neutral rating on shares of Rio Tinto Group in a report on Monday, June 17th. Barclays reiterated an overweight rating and issued a GBX 6,000 ($76.11) target price on shares of Rio Tinto Group in a report on Tuesday, May 7th. Finally, Bank of America reiterated a buy rating and issued a GBX 7,700 ($97.68) target price on shares of Rio Tinto Group in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of GBX 6,313.75 ($80.09).

Rio Tinto Group Stock Performance

Shares of RIO stock opened at GBX 5,201 ($65.98) on Wednesday. The business’s 50 day simple moving average is GBX 5,436.82 and its 200 day simple moving average is GBX 5,371.38. Rio Tinto Group has a one year low of GBX 4,509.50 ($57.21) and a one year high of GBX 5,910 ($74.97). The stock has a market capitalization of £65.01 billion, a PE ratio of 1,083.54, a PEG ratio of -0.64 and a beta of 0.63. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34.

About Rio Tinto Group

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.