UBS Group reissued their neutral rating on shares of Rio Tinto (LON:RIO) in a research note released on Thursday morning, Stock Target Advisor reports. The firm currently has a GBX 4,250 ($55.53) price objective on the stock, up from their prior price objective of GBX 4,100 ($53.57).
A number of other research firms have also issued reports on RIO. Royal Bank of Canada raised Rio Tinto from an underperform rating to a sector perform rating and upped their target price for the company from GBX 3,700 ($48.35) to GBX 3,900 ($50.96) in a research note on Monday. Liberum Capital downgraded Rio Tinto to a sell rating in a research report on Friday, September 20th. Bank of America reissued an underperform rating on shares of Rio Tinto in a report on Tuesday, October 8th. HSBC reduced their price objective on Rio Tinto from GBX 4,750 ($62.07) to GBX 4,725 ($61.74) and set a buy rating on the stock in a research report on Friday, November 1st. Finally, Independent Research reduced their price objective on Rio Tinto from GBX 4,500 ($58.80) to GBX 4,300 ($56.19) and set a hold rating on the stock in a research report on Monday, October 21st. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of Hold and an average price target of GBX 4,418.30 ($57.73).
Shares of RIO traded up GBX 85 ($1.11) during mid-day trading on Thursday, reaching GBX 4,214.50 ($55.07). 881,608 shares of the company’s stock were exchanged, compared to its average volume of 4,860,000. The company has a quick ratio of 1.17, a current ratio of 1.52 and a debt-to-equity ratio of 31.97. Rio Tinto has a 52-week low of GBX 3,511 ($45.88) and a 52-week high of GBX 5,039 ($65.84). The company has a market cap of $53.08 billion and a price-to-earnings ratio of 5.29. The company has a 50-day simple moving average of GBX 4,153.05 and a two-hundred day simple moving average of GBX 4,371.92.
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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