JPMorgan Chase & Co. Reaffirms “Overweight” Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIO)‘s stock had its “overweight” rating reissued by stock analysts at JPMorgan Chase & Co. in a research note issued on Thursday, Marketbeat reports.

Several other research analysts have also commented on the company. Royal Bank Of Canada reissued a “neutral” rating and issued a GBX 4,700 ($63.09) price objective on shares of Rio Tinto Group in a research report on Tuesday. Berenberg Bank downgraded Rio Tinto Group from a “buy” rating to a “hold” rating and lowered their target price for the company from GBX 6,200 ($83.22) to GBX 4,700 ($63.09) in a research note on Wednesday, July 2nd. Finally, Deutsche Bank Aktiengesellschaft lowered their target price on Rio Tinto Group from GBX 5,500 ($73.83) to GBX 5,300 ($71.14) and set a “buy” rating for the company in a research note on Wednesday, July 2nd. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of GBX 5,488.33 ($73.67).

Rio Tinto Group Price Performance

RIO stock opened at GBX 4,485.43 ($60.21) on Thursday. Rio Tinto Group has a 52-week low of GBX 4,024.50 ($54.02) and a 52-week high of GBX 5,474 ($73.48). The stock’s fifty day simple moving average is GBX 4,400.35 and its 200-day simple moving average is GBX 4,614.45. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28. The stock has a market capitalization of £94.12 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59.

About Rio Tinto Group