Rio Tinto (RIO) Given New GBX 5,200 Price Target at JPMorgan Chase & Co.
Rio Tinto (LON:RIO) had its price objective cut by JPMorgan Chase & Co. from GBX 5,300 ($69.25) to GBX 5,200 ($67.95) in a report released on Wednesday morning, Digital Look reports. They currently have an overweight rating on the stock.
Several other brokerages also recently issued reports on RIO. BNP Paribas downgraded Rio Tinto to an underperform rating and boosted their price objective for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research report on Thursday, April 11th. Barclays boosted their price objective on Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the stock an equal weight rating in a research report on Friday, April 12th. Citigroup reiterated a buy rating on shares of Rio Tinto in a research report on Tuesday. Deutsche Bank boosted their price objective on Rio Tinto from GBX 4,250 ($55.53) to GBX 4,700 ($61.41) and gave the stock a hold rating in a research report on Wednesday, April 10th. Finally, Morgan Stanley set a GBX 4,400 ($57.49) price objective on Rio Tinto and gave the stock a neutral rating in a research report on Tuesday. Four analysts have rated the stock with a sell rating, twelve have given a hold rating and five have issued a buy rating to the company’s stock. Rio Tinto presently has a consensus rating of Hold and a consensus target price of GBX 4,368.05 ($57.08).
Shares of LON RIO opened at GBX 4,600 ($60.11) on Wednesday. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. The company has a market cap of $58.07 billion and a PE ratio of 5.84. Rio Tinto has a 12-month low of GBX 3,460.50 ($45.22) and a 12-month high of GBX 4,772.50 ($62.36).
In related news, insider Jean-Sébastien Jacques sold 11 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of GBX 3,862 ($50.46), for a total transaction of £424.82 ($555.10).
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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