Rio Tinto (LON:RIO) had its target price upped by Credit Suisse Group from GBX 3,870 ($50.57) to GBX 4,340 ($56.71) in a report released on Tuesday morning, Borsen Zeitung reports. Credit Suisse Group currently has a neutral rating on the stock.
Several other equities research analysts have also commented on the stock. UBS Group reiterated a neutral rating on shares of Rio Tinto in a research note on Thursday, May 9th. Morgan Stanley reiterated an equal weight rating and issued a GBX 4,400 ($57.49) price objective on shares of Rio Tinto in a research note on Wednesday, May 8th. Barclays reiterated an equal weight rating on shares of Rio Tinto in a research note on Wednesday, May 8th. Citigroup decreased their price target on shares of Rio Tinto from GBX 4,900 ($64.03) to GBX 4,800 ($62.72) and set a buy rating for the company in a research note on Thursday, May 2nd. Finally, Investec lowered shares of Rio Tinto to a hold rating and decreased their price target for the stock from GBX 4,824 ($63.03) to GBX 4,801 ($62.73) in a research note on Wednesday, April 17th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. Rio Tinto presently has an average rating of Hold and an average target price of GBX 4,418.55 ($57.74).
LON:RIO opened at GBX 4,466.50 ($58.36) on Tuesday. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60. The stock has a market capitalization of $56.41 billion and a price-to-earnings ratio of 5.67. Rio Tinto has a 52 week low of GBX 3,460.50 ($45.22) and a 52 week high of GBX 4,790.50 ($62.60).
In other news, insider Jean-Sébastien Jacques sold 13,090 shares of Rio Tinto stock in a transaction on Monday, March 4th. The shares were sold at an average price of GBX 4,327 ($56.54), for a total transaction 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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