Rio Tinto Group (LON:RIO) Receives “Buy” Rating from Berenberg Bank

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reissued by equities research analysts at Berenberg Bank in a report released on Wednesday, Digital Look reports. They currently have a GBX 5,900 ($73.45) price target on the stock. Berenberg Bank’s price target indicates a potential upside of 8.58% from the stock’s previous close.

Other research analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 6,000 ($74.69) price target on shares of Rio Tinto Group in a research report on Thursday. Royal Bank of Canada lowered their price target on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Finally, Bank of America reissued a “buy” rating and set a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus target price of GBX 6,405 ($79.73).

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at GBX 5,434 ($67.65) on Wednesday. Rio Tinto Group has a 52-week low of GBX 4,509.50 ($56.14) and a 52-week high of GBX 5,910 ($73.57). The firm has a market capitalization of £67.93 billion, a price-to-earnings ratio of 1,103.87, a PEG ratio of -0.64 and a beta of 0.65. The company has a fifty day simple moving average of GBX 5,114.71 and a 200-day simple moving average of GBX 5,311.76. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47.

Insider Buying and Selling at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). 14.71% of the stock is currently owned by corporate insiders.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.