Goldman Sachs Group set a GBX 5,250 ($68.60) price objective on Rio Tinto (LON:RIO) in a research report sent to investors on Wednesday, Borsen Zeitung reports. The brokerage currently has a buy rating on the stock.
A number of other brokerages have also weighed in on RIO. Credit Suisse Group reaffirmed an underperform rating and set a GBX 3,820 ($49.92) target price (down from GBX 4,340 ($56.71)) on shares of Rio Tinto in a research report on Monday, October 14th. HSBC set a GBX 4,750 ($62.07) target price on Rio Tinto and gave the company a buy rating in a research report on Wednesday. DZ Bank raised Rio Tinto to a buy rating and lifted their target price for the company from GBX 4,500 ($58.80) to GBX 5,100 ($66.64) in a research report on Tuesday, August 6th. Liberum Capital lowered Rio Tinto to a sell rating in a research report on Friday, September 20th. Finally, Morgan Stanley set a GBX 4,600 ($60.11) target price on Rio Tinto and gave the company a neutral rating in a research report on Tuesday, September 24th. Six research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of GBX 4,412.05 ($57.65).
Shares of LON RIO opened at GBX 3,961.50 ($51.76) on Wednesday. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 31.97. The business has a fifty day simple moving average of GBX 4,142.21 and a two-hundred day simple moving average of GBX 4,461. The firm has a market cap of $50.02 billion and a PE ratio of 4.97. Rio Tinto has a twelve month low of GBX 3,489 ($45.59) and a twelve month high of GBX 5,039 ($65.84).
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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