UBS Group Reiterates “GBX 4,500” Price Target for Rio Tinto (LON:RIO)
UBS Group set a GBX 4,500 ($58.80) price objective on Rio Tinto (LON:RIO) in a research note issued to investors on Monday morning, Borsen Zeitung reports. The brokerage currently has a neutral rating on the stock.
Several other brokerages also recently weighed in on RIO. Jefferies Financial Group set a GBX 5,400 ($70.56) target price on Rio Tinto and gave the stock a buy rating in a research note on Friday, September 11th. Royal Bank of Canada reaffirmed a neutral rating and set a GBX 5,000 ($65.33) target price on shares of Rio Tinto in a research note on Friday, September 11th. Credit Suisse Group set a GBX 4,100 ($53.57) price objective on Rio Tinto and gave the company a sell rating in a research note on Thursday, September 10th. Goldman Sachs Group set a GBX 4,410 ($57.62) price objective on Rio Tinto and gave the company a neutral rating in a research note on Friday, September 4th. Finally, Barclays reissued an underweight rating and issued a GBX 3,600 ($47.04) price objective on shares of Rio Tinto in a research note on Monday, July 27th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of GBX 4,763.85 ($62.25).
Shares of RIO stock opened at GBX 5,050 ($65.99) on Monday. The company has a debt-to-equity ratio of 31.56, a current ratio of 1.61 and a quick ratio of 1.23. The company has a market cap of $62.96 billion and a price-to-earnings ratio of 11.65. The stock has a 50 day simple moving average of GBX 4,728.29 and a 200-day simple moving average of GBX 4,229.93. Rio Tinto has a 1-year low of GBX 2,954 ($38.60) and a 1-year high of GBX 5,152 ($67.32).
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: What is a Derivative?
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.