Rio Tinto Group (NYSE:RIO) Price Target Increased to GBX 5,380 by Analysts at JPMorgan Chase & Co.

Rio Tinto Group (NYSE:RIOGet Rating) had its target price raised by JPMorgan Chase & Co. from GBX 5,310 ($64.80) to GBX 5,380 ($65.65) in a research note issued to investors on Wednesday morning, The Fly reports.

Other equities research analysts have also recently issued reports about the company. Deutsche Bank Aktiengesellschaft boosted their price objective on Rio Tinto Group from GBX 5,800 ($70.77) to GBX 6,200 ($75.66) in a research note on Tuesday, January 10th. CLSA lowered Rio Tinto Group from an outperform rating to an underperform rating in a research report on Tuesday. Berenberg Bank upgraded Rio Tinto Group from a sell rating to a buy rating in a research report on Thursday, January 12th. Citigroup lowered Rio Tinto Group from a buy rating to a neutral rating in a research report on Thursday, December 1st. Finally, Morgan Stanley dropped their target price on Rio Tinto Group from GBX 6,040 ($73.70) to GBX 5,700 ($69.55) in a research report on Thursday, December 8th. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Hold and an average price target of $4,337.50.

Rio Tinto Group Price Performance

Shares of RIO stock opened at $76.40 on Wednesday. Rio Tinto Group has a 12-month low of $50.92 and a 12-month high of $84.69. The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average price is $69.65 and its 200-day moving average price is $61.48.

Hedge Funds Weigh In On Rio Tinto Group

Large investors have recently made changes to their positions in the business. ACG Wealth acquired a new position in shares of Rio Tinto Group during the second quarter worth $67,000. New Millennium Group LLC acquired a new position in shares of Rio Tinto Group in the 2nd quarter valued at $43,000. WNY Asset Management LLC acquired a new position in shares of Rio Tinto Group in the 3rd quarter valued at $378,000. YorkBridge Wealth Partners LLC increased its position in shares of Rio Tinto Group by 2.9% in the 3rd quarter. YorkBridge Wealth Partners LLC now owns 7,100 shares of the mining company’s stock valued at $391,000 after acquiring an additional 203 shares during the period. Finally, Crossmark Global Holdings Inc. increased its position in shares of Rio Tinto Group by 2.8% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 57,615 shares of the mining company’s stock valued at $3,172,000 after acquiring an additional 1,595 shares during the period. 10.43% of the stock is owned by institutional investors and hedge funds.

Rio Tinto Group Company Profile

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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 lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Analyst Recommendations for Rio Tinto Group (NYSE:RIO)

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