Royal Bank of Canada set a GBX 3,700 ($48.35) target price on Rio Tinto (LON:RIO) in a research note issued to investors on Wednesday morning, Borsen Zeitung reports. The brokerage currently has a sell rating on the stock.
RIO has been the topic of a number of other reports. JPMorgan Chase & Co. reissued an overweight rating and issued a GBX 5,500 ($71.87) target price on shares of Rio Tinto in a research note on Friday, October 11th. HSBC set a GBX 4,750 ($62.07) price target on Rio Tinto and gave the company a buy rating in a report on Wednesday. Bank of America reaffirmed an underperform rating on shares of Rio Tinto in a report on Tuesday, October 8th. Deutsche Bank reaffirmed a hold rating and set a GBX 4,450 ($58.15) price target on shares of Rio Tinto in a report on Wednesday. Finally, Jefferies Financial Group reaffirmed a buy rating and set a GBX 4,700 ($61.41) price target (down from GBX 5,500 ($71.87)) on shares of Rio Tinto in a report on Friday, October 11th. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The stock currently has a consensus rating of Hold and a consensus price target of GBX 4,412.05 ($57.65).
LON RIO opened at GBX 3,961.50 ($51.76) on Wednesday. Rio Tinto has a 12 month low of GBX 3,489 ($45.59) and a 12 month high of GBX 5,039 ($65.84). The stock has a market cap of $50.02 billion and a P/E ratio of 4.97. The stock’s fifty day moving average price is GBX 4,142.21 and its 200-day moving average price is GBX 4,461. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 31.97.
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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