Rio Tinto (LON:RIO) Given a GBX 4,300 Price Target at Credit Suisse Group

Rio Tinto (LON:RIO) has been assigned a GBX 4,300 ($56.19) price objective by research analysts at Credit Suisse Group in a research report issued to clients and investors on Friday, Borsen Zeitung reports. The brokerage presently has a “sell” rating on the stock. Credit Suisse Group’s price objective suggests a potential downside of 2.34% from the company’s previous close.

Several other brokerages have also recently issued reports on RIO. JPMorgan Chase & Co. set a GBX 5,580 ($72.91) price target on Rio Tinto and gave the company a “buy” rating in a research note on Thursday. Deutsche Bank set a GBX 5,100 ($66.64) price target on Rio Tinto and gave the company a “neutral” rating in a research note on Friday. Investec cut Rio Tinto to a “hold” rating and cut their price target for the company from GBX 4,824 ($63.03) to GBX 4,801 ($62.73) in a research note on Wednesday, April 17th. BNP Paribas cut Rio Tinto to an “underperform” rating and boosted their price target for the company from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research note on Thursday, April 11th. Finally, Goldman Sachs Group set a GBX 5,250 ($68.60) price target on Rio Tinto and gave the company a “buy” rating in a research note on Thursday. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of GBX 4,479.53 ($58.53).

Shares of RIO stock opened at GBX 4,403 ($57.53) on Friday. The company has a current ratio of 1.92, a quick ratio of 1.51 and a debt-to-equity ratio of 25.60. The company has a market capitalization of $55.81 billion and a PE ratio of 5.59. The company has a 50 day moving average of GBX 4,777.29. Rio Tinto has a 1 year low of GBX 3,460.50 ($45.22) and a 1 year high of GBX 5,039 ($65.84).

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the company’s stock in a transaction on Thursday, July 18th. The stock was sold at an average price of GBX 4,808 ($62.83), for a total transaction of £336.56 ($439.78). Insiders have sold 4,025 shares of company stock valued at $18,156,922 over the last 90 days.

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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