Rio Tinto Group (LON:RIO) Rating Reiterated by Barclays

Rio Tinto Group (LON:RIO)‘s stock had its “overweight” rating reissued by investment analysts at Barclays in a research note issued to investors on Tuesday, Marketbeat reports. They presently have a GBX 6,000 ($75.38) price objective on the stock. Barclays‘s target price would suggest a potential upside of 8.54% from the stock’s previous close.

RIO has been the topic of several other research reports. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a GBX 6,000 ($75.38) target price on shares of Rio Tinto Group in a report on Thursday, April 18th. Royal Bank of Canada lowered their target price on Rio Tinto Group from GBX 6,100 ($76.63) to GBX 5,900 ($74.12) and set a “sector perform” rating on the stock in a report on Thursday, February 22nd. Bank of America reaffirmed a “buy” rating and set a GBX 7,700 ($96.73) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. JPMorgan Chase & Co. lowered their target price on Rio Tinto Group from GBX 6,630 ($83.29) to GBX 6,610 ($83.04) and set an “overweight” rating on the stock in a report on Thursday, April 18th. Finally, Berenberg Bank reaffirmed a “buy” rating and set a GBX 5,900 ($74.12) target price on shares of Rio Tinto Group in a report on Wednesday, April 17th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group presently has a consensus rating of “Moderate Buy” and an average target price of GBX 6,301.25 ($79.16).

Rio Tinto Group Stock Performance

Shares of RIO opened at GBX 5,528 ($69.45) on Tuesday. Rio Tinto Group has a 52-week low of GBX 4,509.50 ($56.65) and a 52-week high of GBX 5,910 ($74.25). The firm has a market capitalization of £69.10 billion, a PE ratio of 1,125.87, a P/E/G ratio of -0.64 and a beta of 0.65. The firm has a 50-day moving average price of GBX 5,158.79 and a 200 day moving average price of GBX 5,351.73. The company has a quick ratio of 1.34, a current ratio of 1.69 and a debt-to-equity ratio of 25.47.

Insider Buying and Selling

In related news, insider Peter Cunningham sold 3,939 shares of Rio Tinto Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($65.53), for a total value of £205,458.24 ($258,113.37). 14.66% of the stock is currently owned by company insiders.

Rio Tinto Group Company Profile

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.