Rio Tinto Group’s (RIO) Buy Rating Reiterated at Bank of America

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reissued by stock analysts at Bank of America in a report released on Wednesday, LSE.Co.UK reports. They currently have a GBX 7,700 ($95.85) target price on the stock. Bank of America‘s price target would indicate a potential upside of 42.84% from the company’s previous close.

Several other research analysts have also weighed in on RIO. Royal Bank of Canada lowered their price target on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Berenberg Bank reaffirmed a “buy” rating and set a GBX 6,200 ($77.18) price target on shares of Rio Tinto Group in a research report on Monday, February 19th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of GBX 6,442.50 ($80.20).

Rio Tinto Group Stock Up 2.6 %

Shares of LON:RIO traded up GBX 136.67 ($1.70) during trading on Wednesday, hitting GBX 5,390.67 ($67.11). 3,403,347 shares of the company were exchanged, compared to its average volume of 3,119,627. The stock has a market cap of £67.38 billion, a price-to-earnings ratio of 1,097.96, a P/E/G ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a fifty-two week low of GBX 4,509.50 ($56.14) and a fifty-two week high of GBX 5,910 ($73.57). The firm has a fifty day moving average price of GBX 5,114.51 and a two-hundred day moving average price of GBX 5,311.22. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,939 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). 14.71% of the stock is owned by insiders.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.