Rio Tinto (LON:RIO) had its price target reduced by JPMorgan Chase & Co. from GBX 5,610 ($73.30) to GBX 5,500 ($71.87) in a report issued on Thursday morning, Borsen Zeitung reports. They currently have an overweight rating on the stock.
RIO has been the topic of several other research reports. Citigroup reissued a buy rating on shares of Rio Tinto in a report on Tuesday, July 30th. UBS Group reissued a neutral rating and set a GBX 4,500 ($58.80) target price (down previously from GBX 4,700 ($61.41)) on shares of Rio Tinto in a report on Wednesday, July 31st. Barclays reissued an underweight rating and set a GBX 4,000 ($52.27) target price on shares of Rio Tinto in a report on Tuesday, August 13th. Societe Generale raised Rio Tinto to a hold rating in a report on Thursday, May 23rd. Finally, HSBC set a GBX 5,200 ($67.95) target price on Rio Tinto and gave the stock a neutral rating in a report on Monday, July 15th. Six 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’s stock. The company has an average rating of Hold and an average target price of GBX 4,471.55 ($58.43).
Shares of LON:RIO opened at GBX 4,410.22 ($57.63) on Thursday. Rio Tinto has a 12 month low of GBX 3,460.50 ($45.22) and a 12 month high of GBX 5,039 ($65.84). The stock has a market cap of $55.79 billion and a price-to-earnings ratio of 5.53. The stock’s 50 day moving average price is GBX 4,260.58 and its 200 day moving average price is GBX 4,488.16. The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of Rio Tinto stock in a transaction that occurred on Monday, July 22nd. The shares were sold at an average price of GBX 4,808 ($62.83), for a total value 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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