Rio Tinto (LON:RIO) Earns Equal weight Rating from Morgan Stanley

Morgan Stanley reiterated their equal weight rating on shares of Rio Tinto (LON:RIO) in a research note issued to investors on Monday morning, ThisIsMoney.Co.Uk reports.

A number of other equities research analysts have also recently commented on the company. BNP Paribas cut Rio Tinto to an underperform rating and lifted their price objective for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research note on Thursday, April 11th. Liberum Capital reaffirmed a buy rating and set a GBX 810 ($10.58) price objective on shares of in a research note on Wednesday, July 3rd. JPMorgan Chase & Co. reaffirmed a buy rating and set a $69.00 price objective on shares of Daimler in a research note on Friday, July 12th. Investec cut Rio Tinto from a buy rating to a hold rating in a research note on Wednesday, April 17th. Finally, HSBC decreased their price objective on Canada Goose from C$62.00 to C$55.00 and set a buy rating for the company in a research note on Monday, June 3rd. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of GBX 4,502.68 ($58.84).

LON RIO opened at GBX 4,841.50 ($63.26) on Monday. The company has a fifty day moving average price of GBX 4,741.63. The firm has a market cap of $60.66 billion and a PE ratio of 6.15. Rio Tinto has a 52 week low of GBX 3,460.50 ($45.22) and a 52 week high of GBX 5,039 ($65.84). The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 8 shares of the business’s stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total value of £367.68 ($480.44).

About Rio Tinto

Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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