Rio Tinto Group’s (RIO) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

JPMorgan Chase & Co. reissued their overweight rating on shares of Rio Tinto Group (LON:RIO) in a research note issued to investors on Wednesday morning, MarketBeat reports. They currently have a GBX 6,500 ($84.30) price target on the stock.

Several other brokerages also recently issued reports on RIO. Citigroup reissued a neutral rating on shares of Rio Tinto Group in a research note on Monday, June 17th. Berenberg Bank downgraded shares of Rio Tinto Group from a buy rating to a hold rating and cut their target price for the company from GBX 5,900 ($76.51) to GBX 5,800 ($75.22) in a research note on Wednesday, June 26th. Barclays reissued an overweight rating and set a GBX 6,000 ($77.81) target price on shares of Rio Tinto Group in a research note on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft reissued a buy rating and set a GBX 6,200 ($80.40) target price on shares of Rio Tinto Group in a research note on Tuesday, June 18th. Finally, Bank of America reaffirmed a buy rating and issued a GBX 7,700 ($99.86) price target on shares of Rio Tinto Group in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of GBX 6,300 ($81.70).

Rio Tinto Group Price Performance

Shares of LON:RIO opened at GBX 4,916 ($63.75) on Wednesday. The company’s fifty day moving average is GBX 5,351.60 and its two-hundred day moving average is GBX 5,311.43. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a 12-month low of GBX 4,509.50 ($58.48) and a 12-month high of GBX 5,910 ($76.64). The company has a market cap of £61.45 billion, a P/E ratio of 1,024.17, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63.

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.