Rio Tinto (RIO) Stock Rating Reaffirmed by JPMorgan Chase & Co.

JPMorgan Chase & Co. reiterated their overweight rating on shares of Rio Tinto (LON:RIO) in a research note released on Wednesday morning, Digital Look reports.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reaffirmed an underperform rating and set a GBX 3,100 ($40.51) price target on shares of Rio Tinto in a research note on Monday, April 1st. HSBC raised their price target on shares of Rio Tinto from GBX 4,675 ($61.09) to GBX 5,000 ($65.33) and gave the company a hold rating in a research note on Tuesday, April 16th. Credit Suisse Group reaffirmed a neutral rating on shares of Rio Tinto in a research note on Monday, May 6th. Morgan Stanley reissued an equal weight rating and set a GBX 4,400 ($57.49) target price on shares of Rio Tinto in a research note on Wednesday, May 8th. Finally, UBS Group reissued a neutral rating and set a GBX 4,500 ($58.80) target price on shares of Rio Tinto in a research note on Tuesday, April 16th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of GBX 4,418.55 ($57.74).

RIO stock opened at GBX 4,673 ($61.06) on Wednesday. The firm has a market cap of $58.92 billion and a PE ratio of 5.93. 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). 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 business also recently declared a dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, March 7th were paid a GBX 319.51 ($4.17) dividend. This is an increase from Rio Tinto’s previous dividend of $96.82. This represents a yield of 7.28%. The ex-dividend date of this dividend was Thursday, March 7th. Rio Tinto’s payout ratio is 0.30%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 8 shares of Rio Tinto stock in a transaction on Wednesday, April 24th. The shares were sold at an average price of GBX 4,596 ($60.05), for a total value of £367.68 ($480.44).

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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