Rio Tinto (LON:RIO) Earns Overweight Rating from JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Rio Tinto (LON:RIO) in a research note issued to investors on Friday morning, Borsen Zeitung reports. They currently have a GBX 5,500 ($71.87) target price on the stock.

RIO has been the subject of a number of other reports. Liberum Capital lowered shares of Rio Tinto to a sell rating in a research note on Friday, September 20th. Goldman Sachs Group set a GBX 5,250 ($68.60) target price on shares of Rio Tinto and gave the company a buy rating in a research note on Thursday, August 1st. Barclays lowered their target price on shares of Rio Tinto from GBX 4,000 ($52.27) to GBX 3,700 ($48.35) and set an underweight rating for the company in a research note on Thursday. Morgan Stanley set a GBX 4,600 ($60.11) price objective on Rio Tinto and gave the company a neutral rating in a report on Tuesday, September 24th. Finally, Royal Bank of Canada restated an underperform rating on shares of Rio Tinto in a report on Friday, August 2nd. Six investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the stock. Rio Tinto has a consensus rating of Hold and an average target price of GBX 4,419.10 ($57.74).

Shares of RIO traded down GBX 94.50 ($1.23) during trading hours on Friday, reaching GBX 4,115 ($53.77). 2,485,342 shares of the company traded hands, compared to its average volume of 4,860,000. The firm has a market cap of $52.09 billion and a price-to-earnings ratio of 5.16. Rio Tinto has a 12-month low of GBX 3,489 ($45.59) and a 12-month high of GBX 5,039 ($65.84). The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 31.97. The stock’s fifty day moving average price is GBX 4,132.55 and its 200 day moving average price is GBX 4,465.85.

The company also recently disclosed a dividend, which was paid on Thursday, September 19th. Investors of record on Thursday, August 8th were issued a GBX 173.14 ($2.26) dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a dividend yield of 3.8%. Rio Tinto’s payout ratio is currently 0.32%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were sold at an average price of GBX 4,808 ($62.83), for a total value of £336.56 ($439.78).

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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