Rio Tinto (LON:RIO) had its price objective reduced by JPMorgan Chase & Co. from GBX 5,610 ($73.30) to GBX 5,500 ($71.87) in a report released on Thursday morning, Borsen Zeitung reports. They currently have an overweight rating on the stock.
A number of other equities research analysts have also recently weighed in on the company. Shore Capital reaffirmed a not rated rating on shares of Rio Tinto in a research note on Thursday, June 6th. Morgan Stanley reaffirmed an equal weight rating on shares of Rio Tinto in a research note on Monday, July 15th. DZ Bank raised Rio Tinto to a buy rating and lifted their price objective for the company from GBX 4,500 ($58.80) to GBX 5,100 ($66.64) in a research note on Tuesday, August 6th. HSBC set a GBX 5,200 ($67.95) target price on Rio Tinto and gave the stock a neutral rating in a research note on Monday, July 15th. Finally, Societe Generale raised Rio Tinto to a hold rating in a research note on Thursday, May 23rd. Six equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Rio Tinto has an average rating of Hold and an average price target of GBX 4,471.55 ($58.43).
Shares of LON RIO traded up GBX 93.50 ($1.22) during trading on Thursday, reaching GBX 4,425.50 ($57.83). The stock had a trading volume of 2,844,061 shares, compared to its average volume of 4,860,000. Rio Tinto has a fifty-two week low of GBX 3,460.50 ($45.22) and a fifty-two week high of GBX 5,039 ($65.84). The company has a debt-to-equity ratio of 31.97, a quick ratio of 1.17 and a current ratio of 1.52. The business’s 50-day moving average price is GBX 4,269.09 and its 200-day moving average price is GBX 4,487.81. The company has a market cap of $55.98 billion and a P/E ratio of 5.55.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of Rio Tinto stock in a transaction dated Thursday, July 18th. The stock was sold at an average price of GBX 4,808 ($62.83), for a total transaction 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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