Rio Tinto Group (LON:RIO) Price Target Cut to GBX 6,610

Rio Tinto Group (LON:RIO) had its price objective reduced by research analysts at JPMorgan Chase & Co. from GBX 6,630 ($82.53) to GBX 6,610 ($82.29) in a report released on Thursday, Marketbeat.com reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 22.86% from the stock’s current price.

A number of other research firms have also recently issued reports on RIO. Berenberg Bank reissued a “buy” rating and set a GBX 5,900 ($73.45) price objective on shares of Rio Tinto Group in a research report on Wednesday. Royal Bank of Canada cut their price objective on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating on the stock in a research report on Thursday, February 22nd. Deutsche Bank Aktiengesellschaft restated a “buy” rating and issued a GBX 6,000 ($74.69) target price on shares of Rio Tinto Group in a report on Thursday. Finally, Bank of America restated a “buy” rating and issued a GBX 7,700 ($95.85) target price on shares of Rio Tinto Group in a report on Wednesday. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of GBX 6,351.25 ($79.06).

Rio Tinto Group Price Performance

RIO stock opened at GBX 5,380 ($66.97) on Thursday. The stock has a market capitalization of £67.25 billion, a PE ratio of 1,095.72, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The company’s 50-day moving average is GBX 5,115.61 and its 200-day moving average is GBX 5,313.98. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. Rio Tinto Group has a 1 year low of GBX 4,509.50 ($56.14) and a 1 year high of GBX 5,910 ($73.57).

Insider Buying and Selling at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). Company insiders own 14.71% of the company’s stock.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.