HSBC Boosts Rio Tinto (RIO) Price Target to GBX 5,000
Rio Tinto (LON:RIO) had its price target upped by equities researchers at HSBC from GBX 4,675 ($61.09) to GBX 5,000 ($65.33) in a research note issued to investors on Tuesday, Borsen Zeitung reports. The brokerage presently has a “hold” rating on the stock. HSBC’s target price would indicate a potential upside of 7.04% from the company’s previous close.
A number of other brokerages have also recently commented on RIO. JPMorgan Chase & Co. set a GBX 5,300 ($69.25) price target on shares of Rio Tinto and gave the company a “buy” rating in a research report on Wednesday, April 10th. BNP Paribas cut shares of Rio Tinto to an “underperform” rating and upped their price target for the company from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research report on Thursday, April 11th. Barclays upped their price target on shares of Rio Tinto from GBX 4,100 ($53.57) to GBX 4,150 ($54.23) and gave the company an “equal weight” rating in a research report on Friday. Deutsche Bank upped their price target on shares of Rio Tinto from GBX 4,250 ($55.53) to GBX 4,700 ($61.41) and gave the company a “hold” rating in a research report on Wednesday, April 10th. Finally, Goldman Sachs Group upped their price target on shares of Rio Tinto from GBX 4,900 ($64.03) to GBX 5,500 ($71.87) and gave the company a “buy” rating in a research report on Thursday, April 11th. Four analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of GBX 4,356.90 ($56.93).
RIO traded down GBX 31.50 ($0.41) during trading on Tuesday, reaching GBX 4,671 ($61.03). 1,975,313 shares of the stock traded hands, compared to its average volume of 4,860,000. The company has a current ratio of 1.92, a quick ratio of 1.51 and a debt-to-equity ratio of 25.60. The stock has a market capitalization of $58.96 billion and a P/E ratio of 5.93. Rio Tinto has a 12 month low of GBX 3,460.50 ($45.22) and a 12 month high of GBX 4,772.50 ($62.36).
About Rio Tinto
Rio Tinto Group engages in finding, mining, and processing mineral resources worldwide. The company offers aluminium, silver, molybdenum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and uranium. It is also involved in the alumina production; primary aluminium smelting; bauxite mining; alumina refining; and ilmenite mining, as well as provision of gypsum.
Further Reading: Special Dividends
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.