JPMorgan Chase & Co. Upgrades Rio Tinto Group (LON:RIO) to “Neutral”

Rio Tinto Group (LON:RIO) was upgraded by equities researchers at JPMorgan Chase & Co. to a “neutral” rating in a report issued on Tuesday,London Stock Exchange reports. The brokerage presently has a GBX 8,280 price target on the stock, up from their previous price target of GBX 7,200. JPMorgan Chase & Co.‘s target price points to a potential upside of 4.44% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Citigroup raised their target price on Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the stock a “neutral” rating in a report on Monday, April 13th. Royal Bank Of Canada restated a “sector perform” rating and set a GBX 6,400 target price on shares of Rio Tinto Group in a report on Friday, April 17th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a GBX 6,900 price target on shares of Rio Tinto Group in a research report on Wednesday, April 22nd. Finally, Berenberg Bank dropped their price target on Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating on the stock in a research report on Wednesday, April 22nd. Five analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Rio Tinto Group presently has an average rating of “Hold” and a consensus price target of GBX 7,156.

Rio Tinto Group Price Performance

Rio Tinto Group stock opened at GBX 7,928 on Tuesday. The business’s 50-day simple moving average is GBX 7,248.49 and its 200 day simple moving average is GBX 6,591.43. The stock has a market cap of £128.92 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of -0.64 and a beta of 0.63. Rio Tinto Group has a 12-month low of GBX 4,110 and a 12-month high of GBX 8,275. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51.

Insider Transactions at Rio Tinto Group

In related news, insider Peter Cunningham sold 6 shares of Rio Tinto Group stock in a transaction that occurred on Friday, April 17th. The stock was sold at an average price of GBX 7,311, for a total value of £438.66. Corporate insiders own 0.10% of the company’s stock.

About Rio Tinto Group

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.