Rio Tinto Group (LON:RIO) Rating Increased to Neutral at JPMorgan Chase & Co.

Rio Tinto Group (LON:RIO) was upgraded by investment analysts at JPMorgan Chase & Co. to a “neutral” rating in a research report issued on Wednesday,Digital Look reports. The brokerage presently has a GBX 8,270 price target on the stock, up from their prior price target of GBX 8,250. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 20.52% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Shore Capital Group lowered their target price on shares of Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating on the stock in a research note on Tuesday, June 2nd. Berenberg Bank reduced their price target on shares of Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a “hold” rating for the company in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a report on Wednesday, July 1st. Royal Bank Of Canada lowered their price objective on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating on the stock in a research report on Thursday, July 16th. Finally, Citigroup dropped their price objective on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating for the company in a research note on Friday, July 10th. Six investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus price target of GBX 7,645.71.

Rio Tinto Group Price Performance

RIO stock opened at GBX 6,862 on Wednesday. The firm has a 50 day moving average of GBX 7,434.24 and a 200-day moving average of GBX 7,108.28. The firm has a market capitalization of £111.59 billion, a P/E ratio of 11.28, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a 12 month low of GBX 4,344.50 and a 12 month high of GBX 8,325. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 37.79.

About Rio Tinto Group

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.