Morgan Stanley Reaffirms Overweight Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO – Get Rating)‘s stock had its “overweight” rating restated by research analysts at Morgan Stanley in a report issued on Wednesday, Digital Look reports.

Several other analysts also recently issued reports on the company. Deutsche Bank Rese… set a GBX 6,100 ($75.21) price target on Rio Tinto Group in a report on Thursday, April 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 6,100 ($75.21) price target on shares of Rio Tinto Group in a report on Thursday, April 21st. Royal Bank of Canada reiterated a “sector perform” rating and issued a GBX 5,500 ($67.81) price target on shares of Rio Tinto Group in a report on Wednesday, May 4th. JPMorgan Chase & Co. set a GBX 5,780 ($71.26) target price on Rio Tinto Group in a research note on Thursday, April 21st. Finally, Jefferies Financial Group set a GBX 6,700 ($82.60) target price on Rio Tinto Group in a research note on Wednesday, April 20th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Rio Tinto Group presently has a consensus rating of “Hold” and an average target price of GBX 5,937.69 ($73.21).

Shares of RIO opened at GBX 5,370 ($66.21) on Wednesday. The company has a current ratio of 1.94, a quick ratio of 1.46 and a debt-to-equity ratio of 23.91. The firm has a market capitalization of £87.02 billion and a P/E ratio of 5.13. The stock’s fifty day simple moving average is GBX 5,798.91 and its 200 day simple moving average is GBX 5,307.54. Rio Tinto Group has a twelve month low of GBX 4,354 ($53.68) and a twelve month high of GBX 6,876.26 ($84.78).

In related news, insider Peter Cunningham sold 10,485 shares of Rio Tinto Group stock in a transaction dated Thursday, February 24th. The stock was sold at an average price of GBX 5,494 ($67.74), for a total value of £576,045.90 ($710,203.30).

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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