Rio Tinto Group (LON:RIO) Price Target Lowered to GBX 8,250 at Citigroup

Rio Tinto Group (LON:RIO) had its price objective trimmed by Citigroup from GBX 8,280 to GBX 8,250 in a report released on Friday morning, MarketBeat reports. The firm currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded Rio Tinto Group to a “neutral” rating and upped their price target for the stock from GBX 7,200 to GBX 8,280 in a research note on Tuesday, May 26th. Berenberg Bank reiterated a “hold” rating and set a GBX 6,600 target price on shares of Rio Tinto Group in a report on Thursday, June 4th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Royal Bank Of Canada restated an “underperform” rating and issued a GBX 6,400 price target on shares of Rio Tinto Group in a report on Wednesday, July 1st. Finally, Jefferies Financial Group reaffirmed a “hold” rating and set a GBX 8,500 price target on shares of Rio Tinto Group in a research report on Tuesday, June 9th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Reduce” and an average target price of GBX 7,475.71.

Rio Tinto Group Price Performance

Shares of Rio Tinto Group stock opened at GBX 6,753 on Friday. Rio Tinto Group has a twelve month low of GBX 4,332.45 and a twelve month high of GBX 8,325. The stock has a market capitalization of £109.82 billion, a P/E ratio of 11.10, a PEG ratio of -0.64 and a beta of 0.65. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 37.79. The business’s fifty day moving average price is GBX 7,556.66 and its 200 day moving average price is GBX 7,060.90.

Insider Buying and Selling

In other Rio Tinto Group news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. Corporate insiders own 0.10% of the company’s stock.

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.