Rio Tinto (LON:RIO)‘s stock had its “neutral” rating reiterated by stock analysts at UBS Group in a research report issued to clients and investors on Tuesday, Borsen Zeitung reports. They currently have a GBX 4,500 ($58.80) price objective on the stock. UBS Group’s price target would suggest a potential downside of 3.69% from the company’s current price.
A number of other brokerages also recently issued reports on RIO. JPMorgan Chase & Co. set a GBX 5,300 ($69.25) price target on Rio Tinto and gave the company a “buy” rating in a report on Wednesday, April 10th. BNP Paribas downgraded Rio Tinto to an “underperform” rating and upped their price target for the company from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a report on Thursday, April 11th. Barclays upped their price target on Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the company an “equal weight” rating in a report on Friday, April 12th. Citigroup reaffirmed a “buy” rating on shares of Rio Tinto in a report on Tuesday. Finally, Deutsche Bank upped their price target on Rio Tinto from GBX 4,250 ($55.53) to GBX 4,700 ($61.41) and gave the company a “hold” rating in a report on Wednesday, April 10th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of GBX 4,368.05 ($57.08).
Shares of LON:RIO traded down GBX 30 ($0.39) during midday trading on Tuesday, reaching GBX 4,672.50 ($61.05). 3,110,674 shares of the company’s stock traded hands, compared to its average volume of 4,860,000. The company has a market cap of $57.30 billion and a P/E ratio of 5.93. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 4,772.50 ($62.36).
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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