Rio Tinto (LON:RIO)‘s stock had its “neutral” rating reaffirmed by UBS Group in a note issued to investors on Wednesday, Borsen Zeitung reports. They presently have a GBX 4,500 ($58.80) price objective on the stock, down from their prior price objective of GBX 4,700 ($61.41). UBS Group’s price target would indicate a potential upside of 2.59% from the stock’s previous close.
Several other research firms have also commented on RIO. Citigroup reaffirmed a “buy” rating on shares of Rio Tinto in a report on Tuesday, July 30th. JPMorgan Chase & Co. decreased their price target on shares of Rio Tinto from GBX 5,670 ($74.09) to GBX 5,580 ($72.91) and set an “overweight” rating for the company in a report on Wednesday, July 17th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Rio Tinto in a report on Monday, July 15th. Barclays reaffirmed an “underweight” rating and issued a GBX 4,000 ($52.27) price target on shares of Rio Tinto in a report on Wednesday, July 17th. Finally, BNP Paribas lowered shares of Rio Tinto to an “underperform” rating and lifted 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. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of GBX 4,479.53 ($58.53).
LON RIO opened at GBX 4,386.50 ($57.32) on Wednesday. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 5,039 ($65.84). The firm has a 50-day simple moving average of GBX 4,768.90. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. The firm has a market cap of $55.60 billion and a price-to-earnings ratio of 5.57.
In related news, insider Jean-Sébastien Jacques sold 7 shares of Rio Tinto stock in a transaction dated Monday, July 22nd. The shares were sold at an average price of GBX 4,808 ($62.83), for a total value of £336.56 ($439.78). Over the last quarter, insiders sold 4,025 shares of company stock worth $18,156,922.
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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