Royal Bank of Canada Analysts Give Rio Tinto Group (LON:RIO) a GBX 4,700 Price Target

Rio Tinto Group (LON:RIOGet Rating) has been given a GBX 4,700 ($59.46) price objective by analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Borsen Zeitung reports. Royal Bank of Canada’s price target would suggest a potential downside of 18.37% from the stock’s current price.

A number of other brokerages also recently issued reports on RIO. Berenberg Bank reaffirmed a “hold” rating and issued a GBX 6,500 ($82.24) price objective on shares of Rio Tinto Group in a research report on Monday, May 23rd. Deutsche Bank Rese… set a GBX 6,000 ($75.91) target price on shares of Rio Tinto Group in a research report on Thursday, May 19th. Barclays restated an “underweight” rating and set a GBX 4,800 ($60.73) price objective on shares of Rio Tinto Group in a research note on Monday, May 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto Group in a report on Wednesday, May 11th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 6,000 ($75.91) price objective on shares of Rio Tinto Group in a research report on Thursday, May 19th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 5,860.77 ($74.15).

Rio Tinto Group stock traded up GBX 8 ($0.10) during mid-day trading on Wednesday, hitting GBX 5,758 ($72.85). 1,833,621 shares of the company’s stock traded hands, compared to its average volume of 3,336,685. Rio Tinto Group has a fifty-two week low of GBX 4,354 ($55.09) and a fifty-two week high of GBX 6,876.26 ($87.00). The company has a debt-to-equity ratio of 23.91, a current ratio of 1.94 and a quick ratio of 1.46. The stock has a market cap of £93.30 billion and a price-to-earnings ratio of 5.55. The firm has a 50 day simple moving average of GBX 5,742.99 and a two-hundred day simple moving average of GBX 5,407.24.

In other news, insider Peter Cunningham sold 762 shares of the stock in a transaction dated Monday, May 16th. The stock was sold at an average price of GBX 5,370 ($67.94), for a total value of £40,919.40 ($51,770.50).

About Rio Tinto Group (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Analyst Recommendations for Rio Tinto Group (LON:RIO)

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