Rio Tinto Group (LON:RIO) Rating Reiterated by Berenberg Bank

Rio Tinto Group (LON:RIO – Get Rating)‘s stock had its “buy” rating reiterated by equities researchers at Berenberg Bank in a note issued to investors on Friday, MarketBeat Ratings reports. They presently have a GBX 6,600 ($81.67) price target on the stock. Berenberg Bank’s target price suggests a potential upside of 28.63% from the company’s current price.

A number of other research analysts also recently weighed in on RIO. UBS Group set a GBX 5,000 ($61.87) price target on Rio Tinto Group in a research note on Wednesday, February 22nd. Jefferies Financial Group set a GBX 7,500 ($92.81) price objective on Rio Tinto Group in a research note on Wednesday, February 22nd. Bank of America increased their price objective on Rio Tinto Group from GBX 6,900 ($85.39) to GBX 7,400 ($91.57) and gave the stock a “buy” rating in a research note on Monday, January 23rd. Royal Bank of Canada set a GBX 4,600 ($56.92) price objective on Rio Tinto Group in a research note on Wednesday, February 22nd. Finally, Morgan Stanley increased their price target on Rio Tinto Group from GBX 5,790 ($71.65) to GBX 5,840 ($72.27) in a research report on Thursday, March 30th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of GBX 6,126.92 ($75.82).

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Rio Tinto Group Stock Down 5.7 %

Shares of Rio Tinto Group stock opened at GBX 5,131 ($63.49) on Friday. The stock’s 50-day moving average is GBX 5,612 and its 200 day moving average is GBX 5,571.13. Rio Tinto Group has a one year low of GBX 4,424.50 ($54.75) and a one year high of GBX 6,406 ($79.27). The company has a debt-to-equity ratio of 23.47, a current ratio of 1.63 and a quick ratio of 1.34. The firm has a market cap of £64.14 billion, a price-to-earnings ratio of 832.95, a PEG ratio of -0.64 and a beta of 0.69.

Insider Activity

In other news, insider Kaisa Hietala acquired 500 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The stock was acquired at an average price of GBX 5,313 ($65.75) per share, with a total value of £26,565 ($32,873.41). In related news, insider Peter Cunningham sold 2,167 shares of the business’s stock in a transaction on Thursday, February 23rd. The shares were sold at an average price of GBX 5,922 ($73.28), for a total transaction of £128,329.74 ($158,804.28). Also, insider Kaisa Hietala acquired 500 shares of the firm’s stock in a transaction on Wednesday, March 22nd. The stock was purchased at an average price of GBX 5,313 ($65.75) per share, with a total value of £26,565 ($32,873.41). Company insiders own 14.67% of the company’s stock.

Rio Tinto Group Company Profile

(Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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