Berenberg Bank Reiterates “Buy” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reaffirmed by analysts at Berenberg Bank in a report released on Wednesday, MarketBeat Ratings reports. They presently have a GBX 6,000 ($76.06) price target on the stock. Berenberg Bank’s target price indicates a potential upside of 20.00% from the stock’s current price.

A number of other equities analysts also recently commented on the stock. Citigroup reissued a “neutral” rating on shares of Rio Tinto Group in a research note on Friday, December 6th. Jefferies Financial Group reissued a “buy” rating and issued a GBX 6,400 ($81.13) target price on shares of Rio Tinto Group in a research note on Friday, December 6th. Finally, Deutsche Bank Aktiengesellschaft cut their target price on shares of Rio Tinto Group from GBX 6,200 ($78.59) to GBX 6,000 ($76.06) and set a “buy” rating on the stock in a research note on Monday, September 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Moderate Buy” and an average price target of GBX 6,203.75 ($78.64).

Rio Tinto Group Trading Down 1.6 %

Shares of RIO stock opened at GBX 5,000 ($63.38) on Wednesday. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01. Rio Tinto Group has a fifty-two week low of GBX 4,509 ($57.16) and a fifty-two week high of GBX 5,910 ($74.91). The firm’s 50 day moving average price is GBX 5,034.99 and its two-hundred day moving average price is GBX 5,078.05. The stock has a market cap of £62.50 billion, a price-to-earnings ratio of 992.06, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59.

Insiders Place Their Bets

In other news, insider Jakob Stausholm sold 6,489 shares of Rio Tinto Group stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of GBX 4,988 ($63.23), for a total value of £323,671.32 ($410,281.81). Also, insider Simon Henry purchased 200 shares of the firm’s stock in a transaction dated Wednesday, October 23rd. The stock was acquired at an average cost of GBX 4,956 ($62.82) per share, with a total value of £9,912 ($12,564.33). 14.62% of the stock is owned by company insiders.

About Rio Tinto Group

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.