Shore Capital Group Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 6,900

Rio Tinto Group (LON:RIO) had its price objective cut by stock analysts at Shore Capital Group from GBX 7,400 to GBX 6,900 in a note issued to investors on Tuesday,London Stock Exchange reports. The firm presently has a “hold” rating on the stock. Shore Capital Group’s price target would suggest a potential downside of 14.30% from the stock’s previous close.

A number of other brokerages also recently commented on RIO. JPMorgan Chase & Co. upgraded Rio Tinto Group to a “neutral” rating and upped their target price for the company from GBX 7,200 to GBX 8,280 in a report on Tuesday, May 26th. Citigroup upped their target price on Rio Tinto Group from GBX 7,200 to GBX 7,600 and gave the company a “neutral” rating in a report on Tuesday, May 26th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 6,400 target price on shares of Rio Tinto Group in a report on Friday, April 17th. Berenberg Bank decreased their target price on Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating for the company in a report on Wednesday, April 22nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 6,900 target price on shares of Rio Tinto Group in a report on Wednesday, April 22nd. Six analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of GBX 7,113.33.

Rio Tinto Group Stock Performance

LON:RIO opened at GBX 8,051 on Tuesday. The firm has a market cap of £130.92 billion, a PE ratio of 13.23, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63. Rio Tinto Group has a fifty-two week low of GBX 4,110 and a fifty-two week high of GBX 8,275. The company has a debt-to-equity ratio of 39.51, a quick ratio of 1.34 and a current ratio of 1.44. The business has a 50 day moving average price of GBX 7,380.74 and a 200-day moving average price of GBX 6,685.67.

Insider Buying and Selling at Rio Tinto Group

In other news, insider Peter Cunningham sold 6 shares of the firm’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total transaction of £438.66. 0.10% of the stock is owned by insiders.

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.