Rio Tinto Group (LON:RIO) Rating Reiterated by Royal Bank of Canada

Rio Tinto Group (LON:RIOGet Rating)‘s stock had its “sector perform” rating reissued by analysts at Royal Bank of Canada in a research report issued to clients and investors on Wednesday, Marketbeat Ratings reports. They presently have a GBX 5,500 ($68.71) price objective on the stock. Royal Bank of Canada’s price target would indicate a potential downside of 0.43% from the stock’s current price.

RIO has been the subject of a number of other reports. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 6,100 ($76.20) price target on shares of Rio Tinto Group in a research note on Thursday, April 21st. JPMorgan Chase & Co. set a GBX 5,780 ($72.20) target price on Rio Tinto Group in a report on Thursday, April 21st. Berenberg Bank reaffirmed a “hold” rating and set a GBX 6,500 ($81.20) target price on shares of Rio Tinto Group in a research report on Tuesday, April 26th. Morgan Stanley reiterated an “overweight” rating and set a GBX 6,410 ($80.07) price target on shares of Rio Tinto Group in a research note on Thursday, April 14th. Finally, Deutsche Bank Rese… set a GBX 6,100 ($76.20) price target on Rio Tinto Group in a research report on Thursday, April 21st. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 5,822.31 ($72.73).

LON:RIO opened at GBX 5,524 ($69.01) on Wednesday. The firm has a market capitalization of £89.51 billion and a price-to-earnings ratio of 5.38. The company has a quick ratio of 1.46, a current ratio of 1.94 and a debt-to-equity ratio of 23.91. Rio Tinto Group has a 12-month low of GBX 4,354 ($54.39) and a 12-month high of GBX 6,876.26 ($85.90). The stock’s 50 day moving average price is GBX 5,843.07 and its two-hundred day moving average price is GBX 5,288.78.

In other news, insider Peter Cunningham sold 10,485 shares of Rio Tinto Group stock in a transaction that occurred on 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).

Rio Tinto Group Company Profile (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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