Rio Tinto (LON:RIO) PT Lowered to GBX 5,580

Rio Tinto (LON:RIO) had its price objective lowered by stock analysts at JPMorgan Chase & Co. from GBX 5,670 ($74.09) to GBX 5,580 ($72.91) in a note issued to investors on Wednesday, Borsen Zeitung reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.09% from the stock’s previous close.

RIO has been the subject of a number of other reports. HSBC set a $12.00 target price on Transocean and gave the company a “buy” rating in a research report on Monday. Citigroup set a $210.00 price objective on Constellation Brands and gave the stock a “hold” rating in a report on Monday, July 1st. Societe Generale raised Anglo American to a “buy” rating in a report on Thursday, May 23rd. Deutsche Bank boosted their price objective on Canadian Pacific Railway from $230.00 to $260.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, UBS Group decreased their price objective on Wells Fargo & Co from $53.00 to $51.00 and set a “buy” rating for the company in a report on Wednesday. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of GBX 4,502.68 ($58.84).

Shares of RIO opened at GBX 4,827.50 ($63.08) on Wednesday. Rio Tinto has a 12-month low of GBX 3,460.50 ($45.22) and a 12-month high of GBX 5,039 ($65.84). The company has a market capitalization of $61.26 billion and a PE ratio of 6.13. The stock’s fifty day moving average price is GBX 4,741.63. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51.

In other news, insider Jean-Sébastien Jacques sold 4,011 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of GBX 4,510 ($58.93), for a total value of £180,896.10 ($236,372.79).

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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