Rio Tinto Group (LON:RIO) Downgraded by Berenberg Bank to “Hold”

Berenberg Bank downgraded shares of Rio Tinto Group (LON:RIO) from a buy rating to a hold rating in a research note released on Wednesday morning, Marketbeat.com reports. Berenberg Bank currently has GBX 5,800 ($73.58) price objective on the stock, down from their prior price objective of GBX 5,900 ($74.84).

A number of other brokerages also recently commented on RIO. Citigroup reissued a neutral rating on shares of Rio Tinto Group in a report on Monday, June 17th. JPMorgan Chase & Co. decreased their target price on Rio Tinto Group from GBX 6,630 ($84.11) to GBX 6,610 ($83.85) and set an overweight rating for the company in a research report on Thursday, April 18th. Deutsche Bank Aktiengesellschaft reaffirmed a buy rating and issued a GBX 6,200 ($78.65) target price on shares of Rio Tinto Group in a research report on Tuesday, June 18th. Barclays restated an overweight rating and set a GBX 6,000 ($76.11) price target on shares of Rio Tinto Group in a research report on Tuesday, May 7th. Finally, Bank of America reiterated a buy rating and issued a GBX 7,700 ($97.68) price objective on shares of Rio Tinto Group in a research report on Wednesday. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Rio Tinto Group has an average rating of Moderate Buy and an average price target of GBX 6,313.75 ($80.09).

Rio Tinto Group Stock Down 1.7 %

RIO stock traded down GBX 91 ($1.15) during trading on Wednesday, reaching GBX 5,176 ($65.66). The stock had a trading volume of 3,283,504 shares, compared to its average volume of 3,152,004. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. The firm has a fifty day moving average price of GBX 5,444.30 and a 200 day moving average price of GBX 5,374.73. The company has a market capitalization of £64.70 billion, a P/E ratio of 1,078.33, a PEG ratio of -0.64 and a beta of 0.63. Rio Tinto Group has a 1-year low of GBX 4,509.50 ($57.21) and a 1-year high of GBX 5,910 ($74.97).

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.