Rio Tinto Group (LON:RIO) Stock Rating Reaffirmed by Bank of America

Rio Tinto Group (LON:RIOGet Free Report)‘s stock had its “buy” rating restated by equities research analysts at Bank of America in a research report issued to clients and investors on Wednesday, MarketBeat Ratings reports. They presently have a GBX 7,700 ($95.85) price objective on the stock. Bank of America‘s price objective indicates a potential upside of 43.36% from the stock’s previous close.

A number of other brokerages have also recently weighed in on RIO. JPMorgan Chase & Co. reiterated an “overweight” rating on shares of Rio Tinto Group in a research report on Tuesday, April 9th. Berenberg Bank restated a “buy” rating and set a GBX 6,200 ($77.18) price target on shares of Rio Tinto Group in a research note on Monday, February 19th. Finally, Royal Bank of Canada dropped their price objective on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating for the company in a research note on Thursday, February 22nd. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,351.25 ($79.06).

Get Our Latest Stock Analysis on RIO

Rio Tinto Group Stock Performance

Rio Tinto Group stock opened at GBX 5,371 ($66.86) on Wednesday. The stock has a market cap of £67.14 billion, a price-to-earnings ratio of 1,093.89, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. 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). The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. The firm has a 50 day simple moving average of GBX 5,114.89 and a 200-day simple moving average of GBX 5,312.17.

Insider Transactions at Rio Tinto Group

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

Rio Tinto Group Company Profile

(Get Free Report)

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.

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