JPMorgan Chase & Co. Has Lowered Expectations for Rio Tinto Group (LON:RIO) Stock Price

Rio Tinto Group (LON:RIO) had its price objective decreased by investment analysts at JPMorgan Chase & Co. from GBX 5,570 ($73.93) to GBX 5,450 ($72.34) in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 21.59% from the stock’s previous close.

A number of other analysts have also recently weighed in on RIO. Berenberg Bank reissued a “hold” rating and set a GBX 4,700 ($62.38) price objective on shares of Rio Tinto Group in a report on Thursday, July 17th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Rio Tinto Group from GBX 5,500 ($73.00) to GBX 5,300 ($70.35) and set a “buy” rating on the stock in a research note on Wednesday, July 2nd. Finally, Royal Bank Of Canada restated a “neutral” rating and issued a GBX 4,700 ($62.38) price objective on shares of Rio Tinto Group in a research note on Tuesday, July 15th. Four equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of GBX 5,325 ($70.68).

Rio Tinto Group Price Performance

Shares of LON RIO opened at GBX 4,482.11 ($59.49) on Thursday. The stock’s 50-day simple moving average is GBX 4,395.67 and its 200-day simple moving average is GBX 4,605.02. The firm has a market capitalization of £94.05 billion, a PE ratio of 8.49, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a fifty-two week low of GBX 4,024.50 ($53.42) and a fifty-two week high of GBX 5,474 ($72.66). The company has a debt-to-equity ratio of 25.28, a quick ratio of 1.34 and a current ratio of 1.70.

Rio Tinto Group Company Profile