Deutsche Bank Aktiengesellschaft Trims Rio Tinto Group (LON:RIO) Target Price to GBX 6,000

Rio Tinto Group (LON:RIO) had its target price cut by analysts at Deutsche Bank Aktiengesellschaft from GBX 6,200 ($81.08) to GBX 6,000 ($78.46) in a note issued to investors on Monday, Digital Look reports. The firm currently has a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective suggests a potential upside of 32.11% from the stock’s current price.

Several other analysts have also issued reports on the stock. JPMorgan Chase & Co. reduced their target price on shares of Rio Tinto Group from GBX 6,500 ($85.00) to GBX 6,430 ($84.09) and set an “overweight” rating for the company in a research note on Thursday, August 1st. Bank of America reiterated a “buy” rating and issued a GBX 7,700 ($100.69) price objective on shares of Rio Tinto Group in a research note on Wednesday, June 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a GBX 5,700 ($74.54) target price on shares of Rio Tinto Group in a report on Thursday, August 1st. Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a research report on Monday, June 17th. Finally, Berenberg Bank lowered Rio Tinto Group from a “buy” rating to a “hold” rating and decreased their target price for the company from GBX 5,900 ($77.15) to GBX 5,800 ($75.85) in a research report on Wednesday, June 26th. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,271.67 ($82.01).

Rio Tinto Group Stock Down 0.8 %

LON:RIO traded down GBX 35.41 ($0.46) on Monday, hitting GBX 4,541.59 ($59.39). The stock had a trading volume of 19,490,055 shares, compared to its average volume of 7,789,008. The business’s fifty day moving average is GBX 4,938.67 and its 200 day moving average is GBX 5,154.60. Rio Tinto Group has a 52 week low of GBX 4,509 ($58.96) and a 52 week high of GBX 5,910 ($77.29). The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01. The company has a market cap of £56.77 billion, a PE ratio of 909.22, a P/E/G ratio of -0.64 and a beta of 0.59.

Rio Tinto Group Company Profile

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.