Rio Tinto (LON:RIO) had its price target cut by JPMorgan Chase & Co. from GBX 5,610 ($73.30) to GBX 5,500 ($71.87) in a research report sent to investors on Thursday, Borsen Zeitung reports. They currently have an overweight rating on the stock.
A number of other equities research analysts have also recently weighed in on RIO. Goldman Sachs Group set a GBX 5,250 ($68.60) price target on Rio Tinto and gave the stock a buy rating in a report on Thursday, August 1st. Deutsche Bank lowered their price target on Rio Tinto from GBX 5,100 ($66.64) to GBX 4,450 ($58.15) and set a hold rating on the stock in a report on Wednesday, September 4th. Shore Capital restated a not rated rating on shares of Rio Tinto in a report on Thursday, June 6th. DZ Bank upgraded Rio Tinto to a buy rating and upped their price target for the stock from GBX 4,500 ($58.80) to GBX 5,100 ($66.64) in a report on Tuesday, August 6th. Finally, Morgan Stanley restated an equal weight rating on shares of Rio Tinto in a report on Monday, July 15th. Six research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. Rio Tinto has an average rating of Hold and an average target price of GBX 4,471.55 ($58.43).
LON RIO traded up GBX 93.50 ($1.22) on Thursday, hitting GBX 4,425.50 ($57.83). 2,844,061 shares of the company’s stock were exchanged, compared to its average volume of 4,860,000. The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17. The firm’s 50-day moving average price is GBX 4,269.09 and its two-hundred day moving average price is GBX 4,487.81. Rio Tinto has a fifty-two week low of GBX 3,460.50 ($45.22) and a fifty-two week high of GBX 5,039 ($65.84). The firm has a market cap of $55.98 billion and a price-to-earnings ratio of 5.55.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the stock in a transaction on Monday, July 22nd. The stock was sold at an average price of GBX 4,808 ($62.83), for a total transaction of £336.56 ($439.78).
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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