Rio Tinto Group (LON:RIO) PT Lowered to GBX 6,610

Rio Tinto Group (LON:RIO) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a note issued to investors on Thursday, Digital Look reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.34% from the company’s previous close.

Other research analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a research note on Thursday. Royal Bank of Canada lowered their target price 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 note on Thursday, February 22nd. Berenberg Bank restated a “buy” rating and issued a GBX 5,900 ($73.45) price target on shares of Rio Tinto Group in a research note on Wednesday. Finally, Bank of America restated a “buy” rating and issued a GBX 7,700 ($95.85) price target on shares of Rio Tinto Group in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of GBX 6,351.25 ($79.06).

Rio Tinto Group Stock Performance

RIO traded up GBX 15 ($0.19) during trading on Thursday, hitting GBX 5,403 ($67.26). 14,247,912 shares of the stock were exchanged, compared to its average volume of 3,281,771. The firm has a market capitalization of £67.54 billion, a P/E ratio of 1,098.17, a PEG ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a 1-year low of GBX 4,509.50 ($56.14) and a 1-year high of GBX 5,910 ($73.57). The stock has a fifty day moving average price of GBX 5,114.71 and a two-hundred day moving average price of GBX 5,311.76. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47.

Insider Transactions at Rio Tinto Group

In other 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). Insiders own 14.71% of the company’s stock.

Rio Tinto Group Company Profile

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.