Royal Bank of Canada Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 5,000

Rio Tinto Group (LON:RIO – Get Rating) had its price objective cut by Royal Bank of Canada from GBX 5,100 ($63.11) to GBX 5,000 ($61.87) in a research note issued to investors on Friday, The Fly reports. Royal Bank of Canada’s price target indicates a potential downside of 2.55% from the company’s current price.

RIO has been the subject of several other research reports. Berenberg Bank reissued a “buy” rating and set a GBX 6,600 ($81.67) price target on shares of Rio Tinto Group in a report on Friday. UBS Group set a GBX 5,000 ($61.87) price objective on Rio Tinto Group in a report on Wednesday, February 22nd. Morgan Stanley lifted their target price on Rio Tinto Group from GBX 5,790 ($71.65) to GBX 5,840 ($72.27) in a research note on Thursday, March 30th. JPMorgan Chase & Co. set a GBX 5,300 ($65.59) target price on Rio Tinto Group in a research note on Wednesday, March 22nd. Finally, Credit Suisse Group set a GBX 7,200 ($89.10) target price on Rio Tinto Group in a research note on Wednesday, January 18th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of GBX 6,126.92 ($75.82).

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Rio Tinto Group Trading Down 5.7 %

LON RIO opened at GBX 5,131 ($63.49) on Friday. The company has a debt-to-equity ratio of 23.47, a current ratio of 1.63 and a quick ratio of 1.34. Rio Tinto Group has a 12 month low of GBX 4,424.50 ($54.75) and a 12 month high of GBX 6,406 ($79.27). The company has a market cap of £64.14 billion, a P/E ratio of 832.95, a P/E/G ratio of -0.64 and a beta of 0.69. The company has a 50-day moving average of GBX 5,612 and a 200-day moving average of GBX 5,571.13.

Insider Buying and Selling at Rio Tinto Group

In related news, insider Peter Cunningham sold 2,167 shares of the company’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). In other news, insider Peter Cunningham sold 2,167 shares of the stock in a transaction that occurred on Thursday, February 23rd. The stock was sold at an average price of GBX 5,922 ($73.28), for a total value of £128,329.74 ($158,804.28). Also, insider Ngaire Woods bought 410 shares of Rio Tinto Group stock in a transaction dated Wednesday, April 5th. The stock was acquired at an average cost of GBX 5,338 ($66.06) per share, with a total value of £21,885.80 ($27,083.03). Corporate insiders own 14.67% of the company’s stock.

About Rio Tinto Group

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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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