Royal Bank of Canada Reaffirms Underperform Rating for Rio Tinto (LON:RIO)

Royal Bank of Canada reissued their underperform rating on shares of Rio Tinto (LON:RIO) in a report released on Friday, ThisIsMoney.Co.Uk reports.

RIO has been the topic of several other reports. Investec lowered shares of Rio Tinto to a hold rating and decreased their target price for the stock from GBX 4,824 ($63.03) to GBX 4,801 ($62.73) in a research report on Wednesday, April 17th. Barclays set a GBX 4,000 ($52.27) target price on shares of Rio Tinto and gave the stock a sell rating in a research report on Thursday. JPMorgan Chase & Co. set a GBX 5,580 ($72.91) target price on shares of Rio Tinto and gave the stock a buy rating in a research report on Thursday. Deutsche Bank restated a hold rating on shares of Rio Tinto in a research report on Thursday. Finally, BNP Paribas lowered shares of Rio Tinto to an underperform rating and boosted their target price for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research report on Thursday, April 11th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The stock has a consensus rating of Hold and a consensus target price of GBX 4,479.53 ($58.53).

Shares of RIO opened at GBX 4,247.25 ($55.50) on Friday. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60. The firm has a market cap of $55.60 billion and a PE ratio of 5.39. The firm has a fifty day moving average price of GBX 4,768.90. Rio Tinto has a 1 year low of GBX 3,460.50 ($45.22) and a 1 year high of GBX 5,039 ($65.84).

The firm also recently disclosed a dividend, which will be paid on Thursday, September 19th. Investors of record on Thursday, August 8th will be given a GBX 173.14 ($2.26) dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a dividend yield of 3.8%. Rio Tinto’s dividend payout ratio is presently 0.30%.

In related news, insider Jean-Sébastien Jacques sold 4,011 shares of the business’s stock in a transaction dated Friday, May 31st. The shares were sold at an average price of GBX 4,510 ($58.93), for a total value of £180,896.10 ($236,372.79). Insiders sold a total of 4,025 shares of company stock worth $18,156,922 over the last quarter.

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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