Rio Tinto (LON:RIO) Given New GBX 4,970 Price Target at JPMorgan Chase & Co.

Rio Tinto (LON:RIO) had its price target cut by JPMorgan Chase & Co. from GBX 5,190 ($67.82) to GBX 4,970 ($64.94) in a research note issued to investors on Friday, March 29th, Borsen Zeitung reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently commented on RIO. Barclays reaffirmed an equal weight rating on shares of Rio Tinto in a research note on Monday, February 25th. Oddo Bhf set a GBX 4,400 ($57.49) price target on Rio Tinto and gave the company a neutral rating in a research note on Friday, February 22nd. UBS Group cut Rio Tinto from a buy rating to a neutral rating and set a GBX 4,500 ($58.80) price target for the company. in a research note on Wednesday, March 6th. Royal Bank of Canada lowered their price target on Rio Tinto from GBX 3,500 ($45.73) to GBX 3,100 ($40.51) and set an underperform rating for the company in a research note on Wednesday, February 27th. Finally, Oddo Securities raised Rio Tinto to a neutral rating and upped their price target for the company from GBX 3,800 ($49.65) to GBX 4,400 ($57.49) in a research note on Monday, February 25th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of GBX 4,368.05 ($57.08).

Shares of LON:RIO traded up GBX 53 ($0.69) on Friday, hitting GBX 4,600 ($60.11). The stock had a trading volume of 3,301,923 shares, compared to its average volume of 4,860,000. The company has a market capitalization of $58.04 billion and a PE 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. Rio Tinto has a twelve month low of GBX 3,460.50 ($45.22) and a twelve month high of GBX 4,790.50 ($62.60).

The business also recently disclosed a dividend, which was paid on Thursday, April 18th. Stockholders of record on Thursday, March 7th were issued a GBX 319.51 ($4.17) dividend. This represents a dividend yield of 7.28%. The ex-dividend date was Thursday, March 7th. This is an increase from Rio Tinto’s previous dividend of $96.82. Rio Tinto’s dividend payout ratio is presently 0.30%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 13,090 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was 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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Analyst Recommendations for Rio Tinto (LON:RIO)

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