JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Rio Tinto (LON:RIO)
JPMorgan Chase & Co. restated their overweight rating on shares of Rio Tinto (LON:RIO) in a research note issued to investors on Monday morning, Borsen Zeitung reports. They currently have a GBX 5,610 ($73.30) price objective on the stock.
RIO has been the topic of a number of other research reports. Shore Capital reiterated a not rated rating on shares of Rio Tinto in a research report on Thursday, June 6th. Royal Bank of Canada reiterated an underperform rating on shares of Rio Tinto in a research report on Friday, August 2nd. Goldman Sachs Group set a GBX 5,250 ($68.60) target price on Rio Tinto and gave the stock a buy rating in a research report on Thursday, August 1st. Deutsche Bank set a GBX 5,100 ($66.64) target price on Rio Tinto and gave the stock a neutral rating in a research report on Friday, August 2nd. Finally, Societe Generale raised Rio Tinto to a hold rating in a report on Thursday, May 23rd. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. Rio Tinto currently has a consensus rating of Hold and an average price target of GBX 4,512.05 ($58.96).
RIO opened at GBX 4,026 ($52.61) on Monday. The business’s 50-day moving average price is GBX 4,615.79. The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17. 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 market capitalization of $50.99 billion and a PE ratio of 5.05.
In related news, insider Jean-Sébastien Jacques sold 7 shares of the firm’s stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of GBX 4,808 ($62.83), for a total transaction of £336.56 ($439.78). In the last three months, insiders have 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.
Recommended Story: Limitations of the P/E Growth ratio
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.