Royal Bank Of Canada Cuts Rio Tinto Group (LON:RIO) Price Target to GBX 6,100

Rio Tinto Group (LON:RIO) had its price target reduced by Royal Bank Of Canada from GBX 6,300 to GBX 6,100 in a report released on Thursday,Digital Look reports. Royal Bank Of Canada currently has an underperform rating on the stock.

A number of other brokerages have also issued reports on RIO. Shore Capital Group lowered their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a report on Tuesday, June 2nd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a report on Wednesday, July 1st. JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and lifted their target price for the company from GBX 7,200 to GBX 8,280 in a research report on Tuesday, May 26th. Jefferies Financial Group reiterated a “hold” rating and issued a GBX 8,500 target price on shares of Rio Tinto Group in a report on Tuesday, June 9th. Finally, Berenberg Bank reaffirmed a “hold” rating and issued a GBX 6,600 price objective on shares of Rio Tinto Group in a research note on Thursday, June 4th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Reduce” and a consensus target price of GBX 7,647.14.

Rio Tinto Group Price Performance

Shares of RIO stock opened at GBX 6,685.43 on Thursday. The company has a debt-to-equity ratio of 37.79, a current ratio of 1.44 and a quick ratio of 1.34. The company has a market capitalization of £108.72 billion, a P/E ratio of 10.99, a P/E/G ratio of -0.64 and a beta of 0.65. The company’s 50-day simple moving average is GBX 7,483.12 and its two-hundred day simple moving average is GBX 7,090.51. Rio Tinto Group has a one year low of GBX 4,344.50 and a one year high of GBX 8,325.

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.