Rio Tinto’s (RIO) “Overweight” Rating Reaffirmed at JPMorgan Chase & Co.

Rio Tinto (LON:RIO)‘s stock had its “overweight” rating reiterated by equities researchers at JPMorgan Chase & Co. in a research report issued to clients and investors on Wednesday, Digital Look reports.

A number of other analysts have also commented on the company. Credit Suisse Group boosted their price objective on Rio Tinto from GBX 3,870 ($50.57) to GBX 4,340 ($56.71) and gave the stock a “neutral” rating in a report on Tuesday. UBS Group reaffirmed a “neutral” rating on shares of Rio Tinto in a report on Thursday, May 9th. Morgan Stanley reaffirmed an “equal weight” rating and issued a GBX 4,400 ($57.49) target price on shares of Rio Tinto in a report on Wednesday, May 8th. Barclays reaffirmed an “equal weight” rating on shares of Rio Tinto in a report on Wednesday, May 8th. Finally, Citigroup reduced their target price on Rio Tinto from GBX 4,900 ($64.03) to GBX 4,800 ($62.72) and set a “buy” rating for the company in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 4,418.55 ($57.74).

RIO traded up GBX 14.50 ($0.19) during midday trading on Wednesday, reaching GBX 4,519.50 ($59.06). 2,413,026 shares of the company were exchanged, compared to its average volume of 4,860,000. The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92. The firm has a market capitalization of $56.87 billion and a P/E ratio of 5.74. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 4,790.50 ($62.60).

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 8 shares of the stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total transaction of £367.68 ($480.44).

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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