Rio Tinto Group (LON:RIO) Price Target Raised to GBX 7,600

Rio Tinto Group (LON:RIO) had its price target upped by Citigroup from GBX 7,200 to GBX 7,600 in a note issued to investors on Tuesday,London Stock Exchange reports. The firm presently has a “neutral” rating on the stock. Citigroup’s price target indicates a potential downside of 4.14% from the company’s current price.

RIO has been the subject of several other reports. Royal Bank Of Canada reissued a “sector perform” rating and issued a GBX 6,400 price objective on shares of Rio Tinto Group in a research note on Friday, April 17th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 6,900 price objective on shares of Rio Tinto Group in a research note on Wednesday, April 22nd. Berenberg Bank lowered their price objective on Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating for the company in a research note on Wednesday, April 22nd. Finally, JPMorgan Chase & Co. raised Rio Tinto Group to a “neutral” rating and increased their price objective for the stock from GBX 7,200 to GBX 8,280 in a research note on Tuesday. Five research analysts have rated the stock with a Hold rating, According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Hold” and a consensus target price of GBX 7,156.

Rio Tinto Group Stock Performance

Shares of Rio Tinto Group stock opened at GBX 7,928 on Tuesday. The company has a market cap of £128.92 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63. Rio Tinto Group has a 52 week low of GBX 4,110 and a 52 week high of GBX 8,275. The business has a 50 day moving average price of GBX 7,248.49 and a 200-day moving average price of GBX 6,591.43. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51.

Insider Activity at Rio Tinto Group

In related news, insider Peter Cunningham sold 6 shares of the 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. 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.