Rio Tinto Group (LON:RIO) Upgraded to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Rio Tinto Group (LON:RIO) to a neutral rating in a research report report published on Wednesday morning,Digital Look reports. JPMorgan Chase & Co. currently has GBX 8,270 price target on the stock, up from their prior price target of GBX 8,250.

A number of other brokerages have also weighed in on RIO. Jefferies Financial Group restated a “hold” rating and set a GBX 8,500 price objective on shares of Rio Tinto Group in a research note on Tuesday, June 9th. Citigroup cut their target price on Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a research report on Friday, July 10th. Royal Bank Of Canada reduced their target price on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating for the company in a research note on Thursday, July 16th. Shore Capital Group decreased their price target on shares of Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research report on Tuesday, June 2nd. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a GBX 7,400 price target on shares of Rio Tinto Group in a research note on Wednesday, July 1st. Six equities research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of GBX 7,645.71.

Rio Tinto Group Trading Up 1.9%

LON:RIO opened at GBX 6,903 on Wednesday. The company has a debt-to-equity ratio of 37.79, a quick ratio of 1.34 and a current ratio of 1.44. Rio Tinto Group has a one year low of GBX 4,344.50 and a one year high of GBX 8,325. The business’s 50-day simple moving average is GBX 7,406.86 and its 200 day simple moving average is GBX 7,114.69. The stock has a market cap of £112.26 billion, a price-to-earnings ratio of 11.35, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of the company’s stock in a transaction that occurred on Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total transaction of £265.60. 0.10% of the stock is currently owned by corporate insiders.

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. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.