Citigroup Has Lowered Expectations for Rio Tinto Group (LON:RIO) Stock Price

Rio Tinto Group (LON:RIO) had its target price lowered by equities researchers at Citigroup from GBX 8,280 to GBX 8,250 in a research note issued on Friday,London Stock Exchange reports. The brokerage presently has a “neutral” rating on the stock. Citigroup’s price target would suggest a potential upside of 22.04% from the stock’s current price.

A number of other equities research analysts also recently issued reports on the stock. Berenberg Bank reaffirmed a “hold” rating and set a GBX 6,600 price target on shares of Rio Tinto Group in a research note on Thursday, June 4th. Royal Bank Of Canada reissued an “underperform” rating and issued a GBX 6,400 price objective on shares of Rio Tinto Group in a research note on Wednesday, July 1st. JPMorgan Chase & Co. upgraded shares of Rio Tinto Group to a “neutral” rating and boosted their target price for the stock from GBX 7,200 to GBX 8,280 in a report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Finally, Shore Capital Group lowered their price target on shares of Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a report on Tuesday, June 2nd. Six analysts have rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of GBX 7,475.71.

Rio Tinto Group Stock Up 1.3%

LON RIO opened at GBX 6,760 on Friday. The stock has a 50 day moving average price of GBX 7,566.10 and a 200-day moving average price of GBX 7,063.07. Rio Tinto Group has a one year low of GBX 4,332.45 and a one year high of GBX 8,325. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. The company has a market capitalization of £109.93 billion, a P/E ratio of 11.11, a P/E/G ratio of -0.64 and a beta of 0.65.

Insider Buying and Selling

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

About Rio Tinto Group

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.