Royal Bank of Canada set a GBX 4,100 ($53.57) price target on Rio Tinto (LON:RIO) in a research note published on Thursday, Borsen Zeitung reports. The brokerage currently has a sell rating on the stock.
Several other research firms have also recently commented on RIO. Barclays reiterated an underweight rating and set a GBX 4,000 ($52.27) target price on shares of Rio Tinto in a research note on Wednesday, July 17th. BNP Paribas cut Rio Tinto to an underperform rating and increased their target price for the company from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research note on Thursday, April 11th. Citigroup reiterated a buy rating on shares of Rio Tinto in a research note on Tuesday, July 30th. Liberum Capital reiterated a buy rating on shares of Rio Tinto in a research note on Thursday. Finally, Investec cut Rio Tinto to a hold rating and reduced their target price for the company from GBX 4,824 ($63.03) to GBX 4,801 ($62.73) in a research note on Wednesday, April 17th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and a consensus target price of GBX 4,479.53 ($58.53).
Shares of LON:RIO opened at GBX 4,247.25 ($55.50) on Thursday. The firm has a market capitalization of $55.60 billion and a P/E ratio of 5.39. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. The firm has a 50 day moving average price of GBX 4,768.90. Rio Tinto has a 52-week low of GBX 3,460.50 ($45.22) and a 52-week high of GBX 5,039 ($65.84).
In related news, insider Jean-Sébastien Jacques sold 7 shares of the firm’s stock in a transaction on Monday, July 22nd. 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 worth $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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