Rio Tinto Group (LON:RIO) Upgraded at Berenberg Bank

Berenberg Bank upgraded shares of Rio Tinto Group (LON:RIO) from a hold rating to a buy rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage currently has GBX 8,600 price target on the stock, up from their prior price target of GBX 8,100.

A number of other brokerages also recently issued reports on RIO. Royal Bank Of Canada reiterated an “underperform” rating and set a GBX 6,100 price objective on shares of Rio Tinto Group in a research note on Wednesday. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Citigroup cut their price target on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a report on Friday, July 10th. Jefferies Financial Group reiterated a “hold” rating and set a GBX 8,500 price target on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Rio Tinto Group from GBX 8,270 to GBX 8,200 and set a “neutral” rating on the stock in a research note on Tuesday, July 28th. One investment analyst has rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of GBX 7,707.14.

Rio Tinto Group Stock Up 0.5%

Shares of LON RIO opened at GBX 7,174 on Thursday. The stock has a market capitalization of £116.67 billion, a P/E ratio of 11.79, a PEG ratio of -0.64 and a beta of 0.65. The stock’s fifty day moving average is GBX 7,293.37 and its 200 day moving average is GBX 7,147.78. Rio Tinto Group has a 52 week low of GBX 4,344.50 and a 52 week high of GBX 8,325. The company has a debt-to-equity ratio of 34.91, a quick ratio of 1.34 and a current ratio of 1.42.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of Rio Tinto Group stock in a transaction dated Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total value of £265.60. 0.10% of the stock is owned by company 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.