Rio Tinto Group’s (RIO) Buy Rating Reaffirmed at Berenberg Bank

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating restated by investment analysts at Berenberg Bank in a research report issued on Thursday, October 15th, Digital Look reports. They currently have a GBX 8,700 price target on the stock. Berenberg Bank‘s price target would indicate a potential upside of 38.98% from the company’s current price.

RIO has been the subject of several other reports. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a report on Tuesday, October 6th. Citigroup decreased their price target on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a report on Friday, July 10th. Royal Bank Of Canada reiterated an “underperform” rating and issued a GBX 6,100 price objective on shares of Rio Tinto Group in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. dropped their price objective on Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating for the company in a research note on Tuesday, July 28th. One analyst has rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of GBX 7,721.43.

Rio Tinto Group Price Performance

Shares of RIO stock traded down GBX 222 during trading hours on Thursday, reaching GBX 6,260. The stock had a trading volume of 5,701,176 shares, compared to its average volume of 29,252,830. The stock’s fifty day simple moving average is GBX 7,243.91 and its 200 day simple moving average is GBX 7,333.16. The firm has a market capitalization of £101.81 billion, a PE ratio of 8.48, a PEG ratio of -0.64 and a beta of 0.66. Rio Tinto Group has a 12 month low of GBX 5,159 and a 12 month high of GBX 8,325. The company has a current ratio of 1.42, a quick ratio of 1.34 and a debt-to-equity ratio of 34.91.

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.