Barclays Reiterates “Underweight” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIOGet Rating)‘s stock had its “underweight” rating reissued by investment analysts at Barclays in a research note issued to investors on Wednesday, MarketBeat reports. They presently have a GBX 4,800 ($59.96) price target on the stock. Barclays‘s price target points to a potential downside of 13.84% from the company’s current price.

A number of other research firms also recently commented on RIO. The Goldman Sachs Group set a GBX 7,300 ($91.19) price objective on shares of Rio Tinto Group in a report on Monday, April 25th. Jefferies Financial Group set a GBX 6,700 ($83.70) price objective on shares of Rio Tinto Group in a report on Wednesday, April 20th. Morgan Stanley reaffirmed an “overweight” rating and set a GBX 6,410 ($80.07) price objective on shares of Rio Tinto Group in a report on Thursday, April 14th. Deutsche Bank Rese… set a GBX 6,100 ($76.20) price objective on shares of Rio Tinto Group in a report on Thursday, April 21st. Finally, Royal Bank of Canada set a GBX 5,500 ($68.71) price objective on shares of Rio Tinto Group in a report on Wednesday, April 20th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of GBX 5,822.31 ($72.73).

LON RIO opened at GBX 5,571 ($69.59) on Wednesday. The company has a debt-to-equity ratio of 23.91, a current ratio of 1.94 and a quick ratio of 1.46. The firm has a market capitalization of £90.27 billion and a price-to-earnings ratio of 5.40. The company’s fifty day moving average is GBX 5,843.07 and its two-hundred day moving average is GBX 5,288.78. Rio Tinto Group has a 52-week low of GBX 4,354 ($54.39) and a 52-week high of GBX 6,876.26 ($85.90).

In related news, insider Peter Cunningham sold 10,485 shares of Rio Tinto Group stock in a transaction dated Thursday, February 24th. The shares were sold at an average price of GBX 5,494 ($68.63), for a total transaction of £576,045.90 ($719,607.62).

About Rio Tinto Group (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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