Citigroup Cuts Rio Tinto Group (LON:RIO) Price Target to GBX 5,400

Rio Tinto Group (LON:RIO) had its target price cut by Citigroup from GBX 5,500 ($70.10) to GBX 5,400 ($68.82) in a research note published on Thursday morning, MarketBeat.com reports. They currently have a sector perform rating on the stock.

RIO has been the topic of several other research reports. Berenberg Bank reiterated a “buy” rating and issued a GBX 6,200 ($79.02) price objective on shares of Rio Tinto Group in a report on Tuesday, October 15th. Deutsche Bank Aktiengesellschaft cut their price objective on Rio Tinto Group from GBX 6,200 ($79.02) to GBX 6,000 ($76.47) and set a “buy” rating on the stock in a report on Monday, September 9th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Rio Tinto Group has an average rating of “Moderate Buy” and a consensus target price of GBX 6,228.75 ($79.39).

Rio Tinto Group Price Performance

RIO stock opened at GBX 4,924 ($62.76) on Thursday. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.01. The company has a market capitalization of £61.55 billion, a PE ratio of 976.98, a P/E/G ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 12-month low of GBX 4,509 ($57.47) and a 12-month high of GBX 5,910 ($75.33). The business’s fifty day moving average price is GBX 5,025.49 and its 200 day moving average price is GBX 5,081.31.

Insider Buying and Selling

In other Rio Tinto Group news, insider Simon Henry acquired 200 shares of the stock in a transaction dated Wednesday, October 23rd. The stock was acquired at an average cost of GBX 4,956 ($63.17) per share, with a total value of £9,912 ($12,633.19). Also, insider Jakob Stausholm sold 6,489 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of GBX 4,988 ($63.57), for a total value of £323,671.32 ($412,530.36). 14.62% of the stock is currently owned by insiders.

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.