Rio Tinto Group’s (RIO) Buy Rating Reiterated at Berenberg Bank

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating restated by Berenberg Bank in a research note issued on Thursday, Marketbeat.com reports. They presently have a GBX 6,300 ($79.28) price objective on the stock. Berenberg Bank’s price objective indicates a potential upside of 24.46% from the stock’s current price.

A number of other brokerages have also recently weighed in on RIO. Citigroup restated a “neutral” rating on shares of Rio Tinto Group in a report on Friday, December 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a GBX 6,400 ($80.53) price objective on shares of Rio Tinto Group in a research note on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Rio Tinto Group has a consensus rating of “Moderate Buy” and a consensus price target of GBX 6,241.25 ($78.54).

Rio Tinto Group Price Performance

Shares of RIO stock traded up GBX 26 ($0.33) during midday trading on Thursday, reaching GBX 5,062 ($63.70). 2,008,439 shares of the company were exchanged, compared to its average volume of 2,645,224. The company has a market cap of £106.22 billion, a P/E ratio of 9.58, a PEG ratio of -0.64 and a beta of 0.59. The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70. Rio Tinto Group has a 12 month low of GBX 4,509 ($56.74) and a 12 month high of GBX 5,854 ($73.66). The company’s 50 day moving average price is GBX 4,866.32 and its two-hundred day moving average price is GBX 4,909.55.

Insiders Place Their Bets

In other news, insider Jakob Stausholm sold 6,489 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of GBX 4,988 ($62.77), for a total value of £323,671.32 ($407,287.43). Insiders own 14.62% of the company’s stock.

Rio Tinto Group Company Profile