Rio Tinto Group (LON:RIO – Get Rating) had its price objective cut by investment analysts at Royal Bank of Canada from GBX 4,900 ($59.04) to GBX 4,700 ($56.63) in a research report issued on Thursday, MarketBeat Ratings reports. The firm currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target points to a potential downside of 4.56% from the stock’s current price.
Several other brokerages have also issued reports on RIO. UBS Group set a GBX 4,300 ($51.81) price objective on shares of Rio Tinto Group in a report on Thursday. Morgan Stanley set a GBX 6,230 ($75.06) price target on shares of Rio Tinto Group in a report on Thursday, June 23rd. Jefferies Financial Group set a GBX 6,800 ($81.93) price target on shares of Rio Tinto Group in a report on Tuesday, June 7th. Deutsche Bank Aktiengesellschaft set a GBX 5,800 ($69.88) price target on shares of Rio Tinto Group in a report on Wednesday, June 29th. Finally, Berenberg Bank lifted their price target on shares of Rio Tinto Group from GBX 4,100 ($49.40) to GBX 4,300 ($51.81) and gave the stock a “sell” rating in a report on Thursday. Three research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of GBX 5,344.62 ($64.39).
Rio Tinto Group Stock Performance
Shares of RIO stock opened at GBX 4,924.50 ($59.33) on Thursday. The firm has a market cap of £79.80 billion and a price-to-earnings ratio of 455.97. The company’s 50 day moving average is GBX 5,184.71 and its 200 day moving average is GBX 5,500.36. The company has a quick ratio of 1.46, a current ratio of 1.94 and a debt-to-equity ratio of 23.91. Rio Tinto Group has a 52-week low of GBX 4,354 ($52.46) and a 52-week high of GBX 6,343 ($76.42).
About Rio Tinto Group
Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.
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