Rio Tinto (LON:RIO) Stock Rating Reaffirmed by Royal Bank of Canada

Royal Bank of Canada restated their underperform rating on shares of Rio Tinto (LON:RIO) in a research report sent to investors on Thursday, ThisIsMoney.Co.Uk reports.

RIO has been the subject of several other research reports. Deutsche Bank raised their target price on shares of Rio Tinto from GBX 4,250 ($55.53) to GBX 4,700 ($61.41) and gave the stock a hold rating in a report on Wednesday, April 10th. Goldman Sachs Group set a GBX 5,500 ($71.87) target price on shares of Rio Tinto and gave the stock a buy rating in a report on Wednesday, April 17th. Barclays raised their target price on shares of Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the stock an equal weight rating in a report on Friday, April 12th. JPMorgan Chase & Co. set a GBX 5,190 ($67.82) price target on shares of Rio Tinto and gave the company a buy rating in a research report on Tuesday, March 5th. Finally, Canaccord Genuity restated a buy rating and set a GBX 4,450 ($58.15) price target on shares of Rio Tinto in a research report on Wednesday, February 27th. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. Rio Tinto presently has a consensus rating of Hold and an average price target of GBX 4,428.47 ($57.87).

Shares of Rio Tinto stock opened at GBX 4,689.50 ($61.28) on Thursday. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. Rio Tinto has a 1 year low of GBX 3,460.50 ($45.22) and a 1 year high of GBX 4,830 ($63.11). The firm has a market cap of $59.05 billion and a P/E ratio of 5.95.

In related news, insider Jean-Sébastien Jacques sold 4,011 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of GBX 4,510 ($58.93), for a total transaction of £180,896.10 ($236,372.79).

About Rio Tinto

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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