Royal Bank Of Canada Has Lowered Expectations for Rio Tinto Group (LON:RIO) Stock Price

Rio Tinto Group (LON:RIO) had its price objective cut by Royal Bank Of Canada from GBX 6,300 to GBX 6,100 in a research report issued on Thursday,Digital Look reports. The firm presently has an “underperform” rating on the stock. Royal Bank Of Canada’s price target indicates a potential downside of 8.76% from the stock’s current price.

A number of other analysts have also recently weighed in on the stock. Citigroup reduced their target price 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 reaffirmed a “hold” rating and issued a GBX 8,500 price target on shares of Rio Tinto Group in a report on Tuesday, June 9th. JPMorgan Chase & Co. upgraded Rio Tinto Group to a “neutral” rating and increased their price objective for the company from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Shore Capital Group reduced their price objective on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research note on Tuesday, June 2nd. Finally, Berenberg Bank restated a “hold” rating and issued a GBX 6,600 target price on shares of Rio Tinto Group in a report on Thursday, June 4th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Rio Tinto Group currently has an average rating of “Reduce” and an average price target of GBX 7,647.14.

Rio Tinto Group Stock Down 0.8%

LON RIO opened at GBX 6,685.43 on Thursday. The company has a debt-to-equity ratio of 37.79, a current ratio of 1.44 and a quick ratio of 1.34. The company’s 50 day simple moving average is GBX 7,483.12 and its 200 day simple moving average is GBX 7,090.51. Rio Tinto Group has a 12 month low of GBX 4,344.50 and a 12 month high of GBX 8,325. The company has a market capitalization of £108.72 billion, a P/E ratio of 10.99, a PEG ratio of -0.64 and a beta of 0.65.

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.