Rio Tinto Group (LON:RIO) Price Target Increased to GBX 7,400 by Analysts at Bank of America

Rio Tinto Group (LON:RIOGet Rating) had its price target boosted by Bank of America from GBX 6,900 ($85.43) to GBX 7,400 ($91.62) in a report published on Monday morning, MarketBeat Ratings reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on the stock. StockNews.com started coverage on shares of Rio Tinto Group in a research report on Wednesday, October 12th. They issued a buy rating on the stock. Citigroup cut shares of Rio Tinto Group to a neutral rating in a research note on Friday, December 2nd. UBS Group set a GBX 5,000 ($61.90) price objective on shares of Rio Tinto Group in a research note on Wednesday, January 18th. Deutsche Bank Aktiengesellschaft set a GBX 6,200 ($76.76) price target on shares of Rio Tinto Group in a research note on Tuesday, January 10th. Finally, JPMorgan Chase & Co. set a GBX 5,380 ($66.61) price target on shares of Rio Tinto Group in a research note on Wednesday, January 18th. Three research analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of Hold and a consensus price target of GBX 6,075.38 ($75.22).

Rio Tinto Group Stock Performance

LON RIO opened at GBX 6,259 ($77.49) on Monday. The company’s 50 day moving average is GBX 5,760.16 and its 200-day moving average is GBX 5,166.72. Rio Tinto Group has a 12-month low of GBX 4,424.50 ($54.78) and a 12-month high of GBX 6,343 ($78.53). The company has a quick ratio of 1.34, a current ratio of 1.79 and a debt-to-equity ratio of 22.52. The firm has a market cap of £101.45 billion and a P/E ratio of 705.30.

Insider Activity

In other news, insider Jakob Stausholm sold 4,964 shares of the company’s stock in a transaction on Thursday, December 1st. The shares were sold at an average price of GBX 5,571 ($68.97), for a total value of £276,544.44 ($342,385.09).

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 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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