Goldman Sachs Group Analysts Give Rio Tinto (LON:RIO) a GBX 4,900 Price Target
Goldman Sachs Group set a GBX 4,900 ($64.46) target price on Rio Tinto (LON:RIO) in a report released on Tuesday morning, Borsen Zeitung reports. The brokerage currently has a buy rating on the stock.
A number of other research firms have also commented on RIO. Morgan Stanley reaffirmed a neutral rating and issued a GBX 4,300 ($56.56) price objective on shares of Rio Tinto in a research note on Friday, January 17th. Societe Generale decreased their price objective on shares of Rio Tinto from GBX 4,460 ($58.67) to GBX 4,100 ($53.93) and set a hold rating for the company in a research note on Monday, December 16th. Deutsche Bank reaffirmed a hold rating and issued a GBX 4,450 ($58.54) price objective on shares of Rio Tinto in a research note on Tuesday, January 28th. HSBC set a GBX 4,630 ($60.91) target price on shares of Rio Tinto and gave the stock a neutral rating in a research report on Monday, January 6th. Finally, Royal Bank of Canada downgraded shares of Rio Tinto from a sector perform rating to an underperform rating and cut their target price for the stock from GBX 3,800 ($49.99) to GBX 3,300 ($43.41) in a research report on Tuesday. Six analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of Hold and a consensus target price of GBX 4,340.05 ($57.09).
Rio Tinto stock opened at GBX 4,223 ($55.55) on Tuesday. The company has a 50 day moving average price of GBX 4,407.18 and a 200 day moving average price of GBX 4,264.18. Rio Tinto has a 52 week low of GBX 3,900.50 ($51.31) and a 52 week high of GBX 5,039 ($66.29). The company has a debt-to-equity ratio of 31.97, a quick ratio of 1.17 and a current ratio of 1.52. The firm has a market capitalization of $52.94 billion and a price-to-earnings ratio of 5.30.
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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