Rio Tinto Group (LON:RIO) Stock Price Expected to Rise, Royal Bank Of Canada Analyst Says

Rio Tinto Group (LON:RIO) had its price target hoisted by equities research analysts at Royal Bank Of Canada from GBX 6,000 to GBX 6,100 in a research note issued on Thursday, MarketBeat Ratings reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price target points to a potential downside of 7.21% from the stock’s current price.

A number of other research firms have also recently issued reports on RIO. Citigroup lifted their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the company a “neutral” rating in a research note on Monday, November 17th. JPMorgan Chase & Co. raised their price target on shares of Rio Tinto Group from GBX 6,100 to GBX 6,950 and gave the company an “overweight” rating in a report on Wednesday, December 3rd. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 5,200 price objective on shares of Rio Tinto Group in a research note on Wednesday, October 15th. One investment analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 5,830.

Rio Tinto Group Trading Up 1.4%

Shares of LON RIO opened at GBX 6,573.87 on Thursday. The business has a 50 day simple moving average of GBX 5,838.39 and a 200 day simple moving average of GBX 5,163.58. Rio Tinto Group has a 52 week low of GBX 4,024.50 and a 52 week high of GBX 6,676. The stock has a market cap of £106.82 billion, a price-to-earnings ratio of 10.47, a PEG ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of GBX 5,464, for a total value of £169,821.12. 0.10% of the stock is owned by company insiders.

Rio Tinto Group Company Profile

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.