Rio Tinto Group (LON:RIO) Cut to “Hold” at Berenberg Bank

Berenberg Bank cut shares of Rio Tinto Group (LON:RIO) from a buy rating to a hold rating in a research report released on Wednesday, MarketBeat.com reports. Berenberg Bank currently has GBX 4,700 ($64.15) target price on the stock, down from their prior target price of GBX 6,200 ($84.62).

Separately, Deutsche Bank Aktiengesellschaft dropped their price objective on Rio Tinto Group from GBX 5,500 ($75.06) to GBX 5,300 ($72.34) and set a “buy” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of GBX 5,655 ($77.18).

Rio Tinto Group Stock Performance

LON RIO opened at GBX 4,338.16 ($59.21) on Wednesday. Rio Tinto Group has a 1-year low of GBX 4,024.50 ($54.93) and a 1-year high of GBX 5,474 ($74.71). The company has a market capitalization of £91.03 billion, a P/E ratio of 8.21, a PEG ratio of -0.64 and a beta of 0.59. The business has a 50 day moving average price of GBX 4,420.77 and a 200 day moving average price of GBX 4,636.24. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34.

About Rio Tinto Group