Jefferies Financial Group Reiterates “Buy” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reiterated by research analysts at Jefferies Financial Group in a report issued on Friday, Marketbeat.com reports. They currently have a GBX 6,400 ($81.66) price objective on the stock. Jefferies Financial Group’s price objective would indicate a potential upside of 30.02% from the stock’s current price.

A number of other research firms have also recently commented on RIO. Citigroup restated a “neutral” rating on shares of Rio Tinto Group in a research report on Friday. Berenberg Bank reiterated a “buy” rating and issued a GBX 6,200 ($79.11) price objective on shares of Rio Tinto Group in a report on Tuesday, October 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Rio Tinto Group from GBX 6,200 ($79.11) to GBX 6,000 ($76.56) and set a “buy” rating on the stock in a report on Monday, September 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of GBX 6,228.75 ($79.48).

Rio Tinto Group Price Performance

Shares of LON:RIO traded down GBX 43.79 ($0.56) during trading on Friday, reaching GBX 4,922.22 ($62.81). 13,243,914 shares of the company’s stock traded hands, compared to its average volume of 6,419,230. Rio Tinto Group has a fifty-two week low of GBX 4,509 ($57.53) and a fifty-two week high of GBX 5,910 ($75.41). The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.01. The firm has a market cap of £61.53 billion, a PE ratio of 976.63, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a 50-day simple moving average of GBX 5,022.32 and a 200-day simple moving average of GBX 5,089.

Insider Activity

In other news, insider Simon Henry bought 200 shares of the business’s stock in a transaction on Wednesday, October 23rd. The shares were bought at an average price of GBX 4,956 ($63.24) per share, with a total value of £9,912 ($12,647.70). Also, insider Jakob Stausholm sold 6,489 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of GBX 4,988 ($63.65), for a total value of £323,671.32 ($413,004.11). Corporate insiders own 14.62% of the company’s stock.

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.