Rio Tinto Group (LON:RIO) Given New GBX 6,600 Price Target at Berenberg Bank

Rio Tinto Group (LON:RIO) had its target price decreased by equities research analysts at Berenberg Bank from GBX 6,700 to GBX 6,600 in a research report issued to clients and investors on Wednesday,Digital Look reports. The firm currently has a “hold” rating on the stock. Berenberg Bank’s price objective points to a potential downside of 10.75% from the stock’s previous close.

A number of other research analysts also recently weighed in on RIO. Citigroup upped their price target on Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the stock a “neutral” rating in a research note on Monday, April 13th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a GBX 6,400 target price on shares of Rio Tinto Group in a report on Friday, April 17th. One research analyst has rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of GBX 6,450.

Rio Tinto Group Stock Up 1.4%

Shares of LON RIO opened at GBX 7,395 on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51. The firm has a market cap of £120.25 billion, a PE ratio of 12.15, a P/E/G ratio of -0.64 and a beta of 0.64. The company’s fifty day simple moving average is GBX 7,012.81 and its 200 day simple moving average is GBX 6,213.49. Rio Tinto Group has a 12-month low of GBX 4,110 and a 12-month high of GBX 7,575.

Insider Transactions at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the company’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total value of £438.66. 0.10% of the stock is owned by corporate insiders.

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.