Rio Tinto (LON:RIO) Price Target Cut to GBX 4,550 by Analysts at Goldman Sachs Group
Rio Tinto (LON:RIO) had its target price decreased by Goldman Sachs Group from GBX 4,900 ($64.46) to GBX 4,550 ($59.85) in a research note published on Friday morning, Borsen Zeitung reports. Goldman Sachs Group currently has a buy rating on the stock.
A number of other research analysts have also weighed in on RIO. Barclays restated an underweight rating and set a GBX 3,600 ($47.36) price objective on shares of Rio Tinto in a research report on Wednesday, January 15th. JPMorgan Chase & Co. cut their price objective on Rio Tinto from GBX 4,890 ($64.33) to GBX 4,830 ($63.54) and set a neutral rating for the company in a research report on Wednesday. Royal Bank of Canada lowered Rio Tinto from a sector perform rating to an underperform rating and cut their price objective for the company from GBX 3,800 ($49.99) to GBX 3,300 ($43.41) in a research report on Tuesday, February 11th. Citigroup restated a buy rating on shares of Rio Tinto in a research report on Friday, November 1st. Finally, Societe Generale cut their price objective on 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 report on Monday, December 16th. Six equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus target price of GBX 4,301.72 ($56.59).
Shares of Rio Tinto stock traded down GBX 71 ($0.93) during trading on Friday, reaching GBX 3,608 ($47.46). 8,071,825 shares of the stock traded hands, compared to its average volume of 4,860,000. The company has a market capitalization of $45.31 billion and a price-to-earnings ratio of 4.52. The business has a fifty day simple moving average of GBX 4,271.35 and a two-hundred day simple moving average of GBX 4,222.66. The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17. 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).
In related news, insider Jakob Stausholm purchased 8 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The stock was bought at an average price of GBX 4,666 ($61.38) per share, for a total transaction of £373.28 ($491.03). Also, insider Jean-Sébastien Jacques sold 12,347 shares of Rio Tinto stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of GBX 4,226 ($55.59), for a total value of £521,784.22 ($686,377.56).
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.
See Also: Most Active Stocks
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.