Rio Tinto Group (LON:RIO) Rating 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 published on Wednesday, MarketBeat Ratings reports. Berenberg Bank currently has GBX 5,800 ($73.58) price target on the stock, down from their prior price target of GBX 5,900 ($74.84).

Several other research analysts also recently weighed in on the stock. Citigroup restated a neutral rating on shares of Rio Tinto Group in a research report on Monday, June 17th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 6,200 ($78.65) price target on shares of Rio Tinto Group in a research note on Tuesday, June 18th. Bank of America reissued a buy rating and issued a GBX 7,700 ($97.68) price objective on shares of Rio Tinto Group in a research note on Wednesday. JPMorgan Chase & Co. lowered their target price on shares of 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 research note on Thursday, April 18th. Finally, Barclays reiterated an overweight rating and issued a GBX 6,000 ($76.11) target price on shares of Rio Tinto Group in a research report on Tuesday, May 7th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus target price of GBX 6,313.75 ($80.09).

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock traded down GBX 91 ($1.15) during trading hours on Wednesday, reaching GBX 5,176 ($65.66). The stock had a trading volume of 3,283,504 shares, compared to its average volume of 3,152,004. The stock’s 50 day moving average is GBX 5,444.30 and its 200 day moving average is GBX 5,374.73. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a twelve month low of GBX 4,509.50 ($57.21) and a twelve month high of GBX 5,910 ($74.97). The firm has a market capitalization of £64.70 billion, a PE ratio of 1,078.33, a PEG ratio of -0.64 and a beta of 0.63.

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.