Berenberg Bank Reiterates Buy Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reaffirmed by research analysts at Berenberg Bank in a report issued on Wednesday, MarketBeat Ratings reports. They presently have a GBX 5,900 ($73.45) target price on the stock. Berenberg Bank’s price objective suggests a potential upside of 9.85% from the company’s previous close.

Several other research firms also recently issued reports on RIO. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,000 ($74.69) price objective on shares of Rio Tinto Group in a report on Thursday. JPMorgan Chase & Co. restated an “overweight” rating on shares of Rio Tinto Group in a report on Tuesday, April 9th. Royal Bank of Canada decreased their price objective on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating for the company in a report on Thursday, February 22nd. Finally, Bank of America restated a “buy” rating and issued a GBX 7,700 ($95.85) price objective on shares of Rio Tinto Group in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Rio Tinto Group currently has an average rating of “Moderate Buy” and an average price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at GBX 5,371 ($66.86) on Wednesday. The company has a market capitalization of £67.14 billion, a PE ratio of 1,093.89, a PEG ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($56.14) and a 12 month high of GBX 5,910 ($73.57). The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. The stock’s fifty day simple moving average is GBX 5,114.89 and its 200 day simple moving average is GBX 5,312.17.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). 14.71% of the stock is currently owned by corporate insiders.

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.