Royal Bank Of Canada Cuts Rio Tinto Group (LON:RIO) Price Target to GBX 4,900

Rio Tinto Group (LON:RIO) had its price objective reduced by Royal Bank Of Canada from GBX 5,000 to GBX 4,900 in a research note released on Monday, Marketbeat Ratings reports. Royal Bank Of Canada currently has a sector perform rating on the stock.

Several other equities analysts have also recently weighed in on RIO. Citigroup lifted their price objective on Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a report on Monday, November 17th. Berenberg Bank restated a “hold” rating and issued a GBX 5,200 price target on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Rio Tinto Group from GBX 6,170 to GBX 6,100 and set an “overweight” rating for the company in a research report on Wednesday, October 15th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 5,708.33.

Rio Tinto Group Stock Up 1.6%

RIO stock opened at GBX 5,504 on Monday. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The stock has a market capitalization of £89.43 billion, a price-to-earnings ratio of 8.77, a PEG ratio of -0.64 and a beta of 0.59. The business’s fifty day moving average price is GBX 5,227.10 and its two-hundred day moving average price is GBX 4,745.96. Rio Tinto Group has a fifty-two week low of GBX 4,024.50 and a fifty-two week high of GBX 5,662.

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.