Investec lowered shares of Rio Tinto (LON:RIO) to a hold rating in a report released on Wednesday, ThisIsMoney.Co.Uk reports. Investec currently has GBX 4,801 ($62.73) price target on the stock, down from their previous price target of GBX 4,824 ($63.03).
A number of other equities research analysts also recently weighed in on RIO. Morgan Stanley set a GBX 4,400 ($57.49) price objective on Rio Tinto and gave the company a neutral rating in a research report on Tuesday. Barclays raised their price objective on Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the company an equal weight rating in a research report on Friday, April 12th. Royal Bank of Canada reaffirmed an underperform rating and set a GBX 3,200 ($41.81) price objective on shares of Rio Tinto in a research report on Tuesday. Citigroup reaffirmed a buy rating on shares of Rio Tinto in a research report on Tuesday. Finally, Goldman Sachs Group raised their price objective on Rio Tinto from GBX 4,900 ($64.03) to GBX 5,500 ($71.87) and gave the company a buy rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. Rio Tinto presently has an average rating of Hold and an average target price of GBX 4,368.05 ($57.08).
Shares of RIO stock opened at GBX 4,600 ($60.11) on Wednesday. Rio Tinto has a 1-year low of GBX 3,460.50 ($45.22) and a 1-year high of GBX 4,772.50 ($62.36). The stock has a market cap of $58.07 billion and a P/E ratio of 5.84. The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 13,090 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of GBX 4,327 ($56.54), for a total value of £566,404.30 ($740,107.54).
Rio Tinto Company Profile
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
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