Rio Tinto Group (LON:RIO) Receives Average Recommendation of “Reduce” from Brokerages

Rio Tinto Group (LON:RIO) has earned a consensus recommendation of “Reduce” from the seven analysts that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is GBX 7,645.71.

A number of analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a report on Wednesday, July 1st. Berenberg Bank decreased their price objective on Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a “hold” rating on the stock in a report on Thursday, July 16th. Shore Capital Group dropped their target price on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research report on Tuesday, June 2nd. Royal Bank Of Canada cut their target price on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating for the company in a research note on Thursday, July 16th. Finally, Jefferies Financial Group reiterated 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.

Insider Activity

In other news, insider Peter Cunningham sold 4 shares of the company’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total value of £265.60. Company insiders own 0.10% of the company’s stock.

Rio Tinto Group Price Performance

Shares of LON:RIO opened at GBX 6,869 on Wednesday. The company’s fifty day moving average price is GBX 7,362.96 and its 200-day moving average price is GBX 7,126.09. The firm has a market capitalization of £111.71 billion, a price-to-earnings ratio of 11.29, a PEG ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a one year low of GBX 4,344.50 and a one year high of GBX 8,325. The company has a debt-to-equity ratio of 37.79, a current ratio of 1.44 and a quick ratio of 1.34.

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.