Barclays reiterated their underweight rating on shares of Rio Tinto (LON:RIO) in a research report released on Tuesday morning, Digital Look reports. They currently have a GBX 4,000 ($52.27) price objective on the stock.
RIO has been the subject of several other reports. Goldman Sachs Group set a GBX 5,250 ($68.60) price objective on shares of Rio Tinto and gave the company a buy rating in a research report on Thursday, August 1st. Investec cut shares of Rio Tinto to a hold rating and decreased their target price for the stock from GBX 4,824 ($63.03) to GBX 4,801 ($62.73) in a research note on Wednesday, April 17th. Liberum Capital reaffirmed a buy rating on shares of Rio Tinto in a research note on Thursday, August 1st. DZ Bank raised shares of Rio Tinto to a buy rating and boosted their target price for the stock from GBX 4,500 ($58.80) to GBX 5,100 ($66.64) in a research note on Tuesday, August 6th. Finally, Credit Suisse Group set a GBX 4,300 ($56.19) target price on shares of Rio Tinto and gave the stock a sell rating in a research note on Friday, August 2nd. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. The company has an average rating of Hold and an average price target of GBX 4,512.05 ($58.96).
Shares of RIO opened at GBX 4,019 ($52.52) on Tuesday. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 5,039 ($65.84). The firm has a market capitalization of $50.99 billion and a P/E ratio of 5.04. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 31.97. The company’s 50 day moving average price is GBX 4,615.79.
In related news, insider Jean-Sébastien Jacques sold 7 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were sold at an average price of GBX 4,808 ($62.83), for a total value of £336.56 ($439.78). In the last three months, insiders sold 4,025 shares of company stock worth $18,156,922.
About Rio Tinto
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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