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

Rio Tinto Group (LON:RIO) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from GBX 6,170 to GBX 6,100 in a note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.87% from the company’s current price.

A number of other equities analysts have also weighed in on RIO. Royal Bank Of Canada lifted their price objective on shares of Rio Tinto Group from GBX 4,700 to GBX 4,900 and gave the company a “sector perform” rating in a research report on Wednesday, July 30th. Deutsche Bank Aktiengesellschaft lowered shares of Rio Tinto Group to a “hold” rating and lowered their price objective for the company from GBX 5,300 to GBX 5,100 in a research report on Wednesday, July 30th. Finally, Berenberg Bank lifted their price objective on shares of Rio Tinto Group from GBX 4,700 to GBX 5,200 and gave the company a “buy” rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of GBX 5,516.67.

Rio Tinto Group Stock Performance

LON:RIO opened at GBX 5,131.66 on Wednesday. The firm’s fifty day moving average price is GBX 4,722.92 and its 200 day moving average price is GBX 4,533.17. Rio Tinto Group has a 1-year low of GBX 4,024.50 and a 1-year high of GBX 5,240. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The firm has a market cap of £83.38 billion, a price-to-earnings ratio of 817.27, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59.

Rio Tinto Group Company Profile

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero.