Rio Tinto plc (LON:RIO) Given Average Rating of “Hold” by Analysts
Shares of Rio Tinto plc (LON:RIO) have been assigned a consensus recommendation of “Hold” from the twenty-two analysts that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is GBX 4,447.73 ($58.51).
Several equities research analysts have recently weighed in on RIO shares. Barclays lowered their price target on shares of Rio Tinto from GBX 3,650 ($48.01) to GBX 3,600 ($47.36) and set an “underweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 5,270 ($69.32) target price (down previously from GBX 5,490 ($72.22)) on shares of Rio Tinto in a research report on Friday, November 1st. Citigroup reissued a “buy” rating on shares of Rio Tinto in a research report on Friday, November 1st. UBS Group set a GBX 4,250 ($55.91) target price on shares of Rio Tinto and gave the company a “neutral” rating in a research report on Thursday. Finally, Independent Research decreased their target price on shares of Rio Tinto from GBX 4,500 ($59.19) to GBX 4,300 ($56.56) and set a “hold” rating for the company in a research report on Monday, October 21st.
Shares of RIO traded down GBX 28.50 ($0.37) during mid-day trading on Friday, hitting GBX 4,320.50 ($56.83). The company’s stock had a trading volume of 3,628,666 shares, compared to its average volume of 4,860,000. The company’s 50-day moving average is GBX 4,187.69 and its 200-day moving average is GBX 4,361.72. Rio Tinto has a 52-week low of GBX 3,511 ($46.19) and a 52-week high of GBX 5,039 ($66.29). The firm has a market capitalization of $54.64 billion and a price-to-earnings ratio of 5.42. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 31.97.
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.
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