Rio Tinto Group’s (RIO) Underperform Rating Reiterated at Royal Bank Of Canada

Rio Tinto Group (LON:RIO)‘s stock had its “underperform” rating reissued by stock analysts at Royal Bank Of Canada in a research note issued to investors on Wednesday,London Stock Exchange reports. They presently have a GBX 6,400 price objective on the stock. Royal Bank Of Canada’s target price would suggest a potential downside of 8.98% from the stock’s previous close.

A number of other equities analysts have also recently commented on RIO. JPMorgan Chase & Co. upgraded shares of Rio Tinto Group to a “neutral” rating and lifted their target price for the stock from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 6,900 price target on shares of Rio Tinto Group in a research report on Wednesday, April 22nd. Berenberg Bank reiterated a “hold” rating and issued a GBX 6,600 price objective on shares of Rio Tinto Group in a report on Thursday, June 4th. Shore Capital Group lowered their target price 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, Jefferies Financial Group restated a “hold” rating and set a GBX 8,500 target price on shares of Rio Tinto Group in a report on Tuesday, June 9th. Six equities research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and an average target price of £177.97.

Rio Tinto Group Trading Down 1.3%

Shares of RIO opened at GBX 7,031.29 on Wednesday. The firm has a market cap of £114.35 billion, a price-to-earnings ratio of 11.56, a PEG ratio of -0.64 and a beta of 0.65. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. Rio Tinto Group has a fifty-two week low of GBX 4,248 and a fifty-two week high of GBX 8,325. The firm has a 50 day moving average price of GBX 7,633.47 and a 200-day moving average price of GBX 7,004.44.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total value of £438.66. 0.10% of the stock is owned by insiders.

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.