Rio Tinto Group (LON:RIO – Get Free Report)‘s stock had its “buy” rating reaffirmed by investment analysts at Berenberg Bank in a research report issued to clients and investors on Wednesday, MarketBeat reports. They currently have a GBX 5,900 ($73.45) price objective on the stock. Berenberg Bank’s price objective would indicate a potential upside of 9.85% from the stock’s current price.
Several other research analysts have also commented on RIO. Royal Bank of Canada decreased their price objective on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating for the company in a report on Thursday, February 22nd. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a research note on Thursday. Finally, Bank of America reiterated a “buy” rating and issued a GBX 7,700 ($95.85) price objective on shares of Rio Tinto Group in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,351.25 ($79.06).
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Rio Tinto Group Stock Down 0.3 %
Insiders Place Their Bets
In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of Rio Tinto Group stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). 14.71% of the stock is owned by insiders.
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.
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