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

Berenberg Bank downgraded shares of Rio Tinto Group (LON:RIO – Get Rating) from a buy rating to a hold rating in a research report report published on Wednesday, MarketBeat.com reports. They currently have GBX 6,500 ($84.57) target price on the stock, down from their previous target price of GBX 6,700 ($87.17).

RIO has been the subject of a number of other research reports. Liberum Capital cut Rio Tinto Group to a sell rating and set a GBX 4,200 ($54.64) price objective for the company. in a research note on Thursday, January 20th. Morgan Stanley reiterated an overweight rating and issued a GBX 6,410 ($83.40) price objective on shares of Rio Tinto Group in a research note on Thursday, April 14th. Deutsche Bank Rese… set a GBX 6,100 ($79.37) price objective on Rio Tinto Group in a research note on Tuesday, April 5th. Royal Bank of Canada set a GBX 5,500 ($71.56) price objective on Rio Tinto Group in a research note on Wednesday. Finally, JPMorgan Chase & Co. set a GBX 5,780 ($75.20) target price on Rio Tinto Group in a report on Thursday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Hold and an average price target of GBX 5,791.54 ($75.35).

Shares of LON RIO opened at GBX 5,664 ($73.69) on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.46 and a debt-to-equity ratio of 23.91. Rio Tinto Group has a twelve month low of GBX 4,354 ($56.65) and a twelve month high of GBX 6,876.26 ($89.46). The stock has a 50 day moving average of GBX 5,849.41 and a two-hundred day moving average of GBX 5,253.09. The stock has a market cap of £91.78 billion and a P/E ratio of 5.69.

The firm also recently announced a dividend, which was paid on Thursday, April 21st. Shareholders of record on Thursday, March 10th were issued a GBX 352.32 ($4.58) dividend. This represents a yield of 6.19%. The ex-dividend date was Thursday, March 10th. Rio Tinto Group’s dividend payout ratio (DPR) is currently 0.68%.

In other news, insider Peter Cunningham sold 10,485 shares of the stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of GBX 5,494 ($71.48), for a total value of £576,045.90 ($749,474.24).

Rio Tinto Group Company Profile (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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