Berenberg Bank Downgrades Rio Tinto Group (LON:RIO) to Hold

Rio Tinto Group (LON:RIOGet Free Report) was downgraded by Berenberg Bank from a “buy” rating to a “hold” rating in a report released on Wednesday, Marketbeat Ratings reports. They currently have a GBX 5,800 ($73.58) price objective on the stock, down from their prior price objective of GBX 5,900 ($74.84). Berenberg Bank’s price target indicates a potential upside of 12.06% from the company’s previous close.

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

Check Out Our Latest Analysis on RIO

Rio Tinto Group Stock Performance

Shares of LON RIO opened at GBX 5,176 ($65.66) on Wednesday. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($57.21) and a 12 month high of GBX 5,910 ($74.97). The stock has a 50 day moving average of GBX 5,444.30 and a 200-day moving average of 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. The company has a market capitalization of £64.70 billion, a P/E ratio of 1,078.33, a P/E/G ratio of -0.64 and a beta of 0.63.

About Rio Tinto Group

(Get Free Report)

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.

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Analyst Recommendations for Rio Tinto Group (LON:RIO)

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