Rio Tinto Group (LON:RIO) Price Target Cut to GBX 5,110

Rio Tinto Group (LON:RIO – Get Rating) had its price target reduced by research analysts at JPMorgan Chase & Co. from GBX 5,300 ($65.59) to GBX 5,110 ($63.23) in a research note issued to investors on Friday, The Fly reports. JPMorgan Chase & Co.‘s price objective indicates a potential downside of 0.41% from the company’s previous close.

A number of other analysts have also issued reports on RIO. Deutsche Bank Aktiengesellschaft reissued a “buy” rating on shares of Rio Tinto Group in a research note on Friday, March 17th. Bank of America upped their price objective on shares of Rio Tinto Group from GBX 6,900 ($85.39) to GBX 7,400 ($91.57) and gave the stock a “buy” rating in a research note on Monday, January 23rd. Barclays set a GBX 5,800 ($71.77) price target on shares of Rio Tinto Group in a report on Thursday, January 12th. Morgan Stanley lifted their price objective on shares of Rio Tinto Group from GBX 5,790 ($71.65) to GBX 5,840 ($72.27) in a report on Thursday, March 30th. Finally, Jefferies Financial Group set a GBX 7,500 ($92.81) price target on Rio Tinto Group in a report on Wednesday, February 22nd. Two analysts have rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of GBX 6,126.92 ($75.82).

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Rio Tinto Group Price Performance

RIO stock opened at GBX 5,131 ($63.49) on Friday. Rio Tinto Group has a 52 week low of GBX 4,424.50 ($54.75) and a 52 week high of GBX 6,406 ($79.27). The company has a quick ratio of 1.34, a current ratio of 1.63 and a debt-to-equity ratio of 23.47. The company has a fifty day simple moving average of GBX 5,612 and a two-hundred day simple moving average of GBX 5,571.13. The firm has a market capitalization of £64.14 billion, a P/E ratio of 832.95, a price-to-earnings-growth ratio of -0.64 and a beta of 0.69.

Insider Activity

In other news, insider Kaisa Hietala acquired 500 shares of the business’s stock in a transaction dated Wednesday, March 22nd. The shares were acquired at an average cost of GBX 5,313 ($65.75) per share, with a total value of £26,565 ($32,873.41). In related news, insider Peter Cunningham sold 2,167 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The stock was sold at an average price of GBX 5,922 ($73.28), for a total transaction of £128,329.74 ($158,804.28). Also, insider Kaisa Hietala bought 500 shares of the company’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were bought at an average cost of GBX 5,313 ($65.75) per share, for a total transaction of £26,565 ($32,873.41). Corporate insiders own 14.67% of the company’s stock.

Rio Tinto Group Company Profile

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Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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