Rio Tinto (LON:RIO) had its price target boosted by equities research analysts at Deutsche Bank from GBX 4,700 ($61.41) to GBX 5,200 ($67.95) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm currently has a “hold” rating on the stock. Deutsche Bank’s price objective suggests a potential upside of 8.14% from the company’s current price.
A number of other equities analysts have also recently issued reports on RIO. Barclays set a $164.00 price objective on shares of Jazz Pharmaceuticals and gave the company a “buy” rating in a research report on Wednesday, July 3rd. Shore Capital restated a “buy” rating on shares of in a research report on Thursday, June 6th. Credit Suisse Group set a €19.00 ($22.09) price objective on shares of K&S and gave the company a “neutral” rating in a research report on Tuesday, May 14th. UBS Group set a $13.00 price objective on shares of Freeport-McMoRan and gave the company a “hold” rating in a research report on Wednesday, June 26th. Finally, BNP Paribas cut shares of Rio Tinto to an “underperform” rating and boosted their price objective for the company from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research report on Thursday, April 11th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. Rio Tinto presently has a consensus rating of “Hold” and a consensus price target of GBX 4,500.58 ($58.81).
LON:RIO traded down GBX 15.50 ($0.20) during trading hours on Wednesday, reaching GBX 4,808.50 ($62.83). The company’s stock had a trading volume of 2,321,911 shares, compared to its average volume of 4,860,000. The company has a market capitalization of $61.04 billion and a price-to-earnings ratio of 6.11. The firm’s 50-day moving average price is GBX 4,721.59. 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). The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51.
In other news, insider Jean-Sébastien Jacques sold 8 shares of Rio Tinto stock in a transaction dated Wednesday, April 24th. The shares were sold at an average price of GBX 4,596 ($60.05), for a total transaction of £367.68 ($480.44).
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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