Rio Tinto Group (LON:RIO) Given New GBX 8,100 Price Target at Berenberg Bank

Rio Tinto Group (LON:RIO) had its price objective cut by Berenberg Bank from GBX 8,200 to GBX 8,100 in a research note released on Thursday, Marketbeat reports. They currently have a hold rating on the stock.

A number of other equities research analysts also recently weighed in on RIO. Jefferies Financial Group reaffirmed a “hold” rating and issued a GBX 8,500 target price on shares of Rio Tinto Group in a report on Tuesday, June 9th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 7,400 price target on shares of Rio Tinto Group in a report on Wednesday, July 1st. Citigroup dropped their price objective on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a research report on Friday, July 10th. JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and raised their price objective for the company from GBX 7,200 to GBX 8,280 in a research note on Tuesday, May 26th. Finally, Royal Bank Of Canada decreased their target price on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating on the stock in a research report on Thursday. Six research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Reduce” and a consensus price target of GBX 7,647.14.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at GBX 6,850 on Thursday. The firm has a market cap of £111.40 billion, a PE ratio of 11.26, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a one year low of GBX 4,344.50 and a one year high of GBX 8,325. 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 stock’s fifty day moving average price is GBX 7,503.49 and its two-hundred day moving average price is GBX 7,093.37.

Rio Tinto Group News Roundup

Here are the key news stories impacting Rio Tinto Group this week:

• Positive Sentiment: Rio Tinto reported stronger first-half production and said the Simandou project is moving closer to completion, which supports longer-term growth expectations. Rio Tinto increases first-half production as Simandou project moves closer to completion (RIO)
• Positive Sentiment: The company also reported a 7% rise in second-quarter iron ore sales, beating estimates and signaling resilient demand in its core business. Rio Tinto reports 7% rise in second-quarter iron ore sales, beats estimates
• Positive Sentiment: Rio Tinto reaffirmed its production targets, which may reassure investors that management still expects to meet its operational goals. Rio Tinto reaffirms production targets
• Neutral Sentiment: Berenberg Bank trimmed its price target slightly to GBX 8,100 but kept a hold rating, suggesting limited near-term upside rather than a major change in outlook. Broker views
• Negative Sentiment: Royal Bank of Canada cut its price target to GBX 6,100 and kept an underperform rating, adding to bearish sentiment around the shares. Broker views
• Negative Sentiment: Rio Tinto’s copper output fell 7% as the Kennecott shutdown and other smelter issues weighed on production, raising concerns about near-term earnings pressure. Rio Tinto Copper Output Falls 7% as Kennecott Shutdown Persists
• Negative Sentiment: Reports of lower Q2 copper production and slipping copper output reinforced worries that operational disruptions could offset gains in iron ore. Australian Shares Up; Rio Tinto Group Reports Lower Q2 Copper Production

About Rio Tinto Group

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.