Citigroup Forecasts Strong Price Appreciation for Rio Tinto Group (LON:RIO) Stock

Rio Tinto Group (LON:RIO) had its price target raised by stock analysts at Citigroup from GBX 4,600 to GBX 5,700 in a report issued on Monday, MarketBeat Ratings reports. The firm currently has a “neutral” rating on the stock. Citigroup’s target price points to a potential upside of 7.79% from the company’s previous close.

Several other research firms also recently weighed in on RIO. Berenberg Bank reissued a “hold” rating and issued a GBX 5,200 target price on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Deutsche Bank Aktiengesellschaft cut shares of Rio Tinto Group to a “hold” rating and lowered their price objective for the stock from GBX 5,300 to GBX 5,100 in a research report on Wednesday, July 30th. JPMorgan Chase & Co. cut their target price on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an “overweight” rating on the stock in a research note on Wednesday, October 15th. Finally, Royal Bank Of Canada raised their target price on Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the stock a “sector perform” rating in a research report on Wednesday, July 30th. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Hold” and an average price target of GBX 5,566.67.

Rio Tinto Group Trading Down 2.0%

LON:RIO opened at GBX 5,288 on Monday. The stock has a fifty day simple moving average of GBX 5,058.92 and a 200 day simple moving average of GBX 4,684.31. The firm has a market capitalization of £85.92 billion, a price-to-earnings ratio of 8.42, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 1-year low of GBX 4,024.50 and a 1-year high of GBX 5,565. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28.

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.