Rio Tinto (LON:RIO) Given a GBX 5,670 Price Target by JPMorgan Chase & Co. Analysts

JPMorgan Chase & Co. set a GBX 5,670 ($74.09) price objective on Rio Tinto (LON:RIO) in a report issued on Friday, Borsen Zeitung reports. The brokerage currently has a buy rating on the stock.

Other equities research analysts have also recently issued reports about the company. Morgan Stanley restated an overweight rating and issued a GBX 2,280 ($29.79) price objective on shares of Anglo American in a research note on Wednesday, May 8th. Credit Suisse Group set a €19.00 ($22.09) price target on K&S and gave the company a neutral rating in a research report on Tuesday, May 14th. Royal Bank of Canada reissued an average rating and set a $48.00 price objective on shares of in a report on Thursday, June 27th. BNP Paribas lowered Rio Tinto to an underperform rating and upped their target price for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research note on Thursday, April 11th. Finally, HSBC cut their target price on Canada Goose from C$62.00 to C$55.00 and set a buy rating for the company in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of GBX 4,515.32 ($59.00).

RIO opened at GBX 4,868 ($63.61) on Friday. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60. The stock has a market cap of $61.77 billion and a P/E ratio of 6.18. The business’s fifty day moving average price is GBX 4,732.77. Rio Tinto has a 1 year low of GBX 3,460.50 ($45.22) and a 1 year high of GBX 5,039 ($65.84).

In related news, insider Jean-Sébastien Jacques sold 4,011 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of GBX 4,510 ($58.93), for a total transaction of £180,896.10 ($236,372.79).

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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