Royal Bank of Canada Reiterates GBX 4,700 Price Target for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIOGet Rating) has been given a GBX 4,700 ($58.90) target price by research analysts at Royal Bank of Canada in a research note issued to investors on Tuesday, Borsen Zeitung reports. Royal Bank of Canada’s price objective would indicate a potential downside of 21.09% from the company’s current price.

RIO has been the subject of a number of other reports. Credit Suisse Group set a GBX 7,000 ($87.72) price target on Rio Tinto Group in a research report on Wednesday, May 4th. JPMorgan Chase & Co. reiterated a “neutral” rating on shares of Rio Tinto Group in a research report on Thursday, May 12th. Morgan Stanley reiterated an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, May 11th. Barclays reiterated an “underweight” rating and set a GBX 4,800 ($60.15) target price on shares of Rio Tinto Group in a research report on Monday, May 16th. Finally, Berenberg Bank reiterated a “hold” rating and set a GBX 6,500 ($81.45) target price on shares of Rio Tinto Group in a research report on Monday, May 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of GBX 5,860.77 ($73.44).

Shares of RIO opened at GBX 5,956 ($74.64) on Tuesday. The company has a market cap of £96.52 billion and a PE ratio of 5.80. The business has a fifty day moving average of GBX 5,738.69 and a 200 day moving average of GBX 5,452.22. Rio Tinto Group has a 52-week low of GBX 4,354 ($54.56) and a 52-week high of GBX 6,343 ($79.49). The company has a quick ratio of 1.46, a current ratio of 1.94 and a debt-to-equity ratio of 23.91.

In related news, insider Peter Cunningham sold 762 shares of Rio Tinto Group stock in a transaction dated Monday, May 16th. The stock was sold at an average price of GBX 5,370 ($67.29), for a total value of £40,919.40 ($51,277.44).

Rio Tinto Group Company Profile (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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