Rio Tinto (LON:RIO) Given a GBX 4,000 Price Target at Barclays

Rio Tinto (LON:RIO) has been assigned a GBX 4,000 ($52.27) target price by analysts at Barclays in a research note issued on Wednesday, Borsen Zeitung reports. The brokerage currently has a “neutral” rating on the stock. Barclays‘s target price would suggest a potential downside of 22.10% from the company’s previous close.

RIO has been the subject of a number of other reports. JPMorgan Chase & Co. upgraded shares of Rio Tinto to an “overweight” rating and reduced their price target for the stock from GBX 6,500 ($84.93) to GBX 6,350 ($82.97) in a report on Tuesday. Goldman Sachs Group set a GBX 4,410 ($57.62) price target on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Friday, September 4th. Jefferies Financial Group set a GBX 5,400 ($70.56) price target on shares of Rio Tinto and gave the stock a “buy” rating in a report on Friday, September 11th. Deutsche Bank reiterated a “buy” rating and set a GBX 5,000 ($65.33) price objective on shares of Rio Tinto in a report on Friday, September 11th. Finally, Bank of America upgraded shares of Rio Tinto to a “buy” rating and set a GBX 5,700 ($74.48) price objective for the company in a report on Friday, May 29th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Rio Tinto has an average rating of “Hold” and a consensus price target of GBX 4,763.85 ($62.25).

LON:RIO traded up GBX 135 ($1.76) during trading hours on Wednesday, reaching GBX 5,135 ($67.10). The company had a trading volume of 3,617,509 shares, compared to its average volume of 2,999,728. The company has a quick ratio of 1.23, a current ratio of 1.61 and a debt-to-equity ratio of 31.56. The firm has a market cap of $64.02 billion and a price-to-earnings ratio of 11.65. The business’s 50-day simple moving average is GBX 4,720.54 and its two-hundred day simple moving average is GBX 4,223.82. Rio Tinto has a twelve month low of GBX 2,954 ($38.60) and a twelve month high of GBX 5,152 ($67.32).

Rio Tinto Company Profile

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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