Rio Tinto (LON:RIO) Stock Rating Lowered by HSBC

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Rio Tinto (LON:RIO) was downgraded by stock analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Friday, March 1st. They presently have a GBX 4,650 ($60.76) price objective on the stock, down from their prior price objective of GBX 4,780 ($62.46). HSBC’s price target points to a potential upside of 12.02% from the company’s current price.

Several other equities research analysts have also weighed in on RIO. UBS Group set a GBX 4,500 ($58.80) price objective on Rio Tinto and gave the stock a “buy” rating in a research note on Wednesday, February 27th. Bank of America lowered Rio Tinto from a “neutral” rating to an “underperform” rating and set a GBX 4,150 ($54.23) price objective for the company. in a report on Thursday, February 28th. JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rio Tinto in a research report on Friday, November 9th. Credit Suisse Group reaffirmed an “outperform” rating on shares of Rio Tinto in a research report on Thursday, November 15th. Finally, Barclays lifted their target price on Rio Tinto from GBX 3,750 ($49.00) to GBX 4,100 ($53.57) and gave the stock an “equal weight” rating in a research report on Thursday, January 10th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of GBX 4,245.15 ($55.47).

LON RIO traded down GBX 18 ($0.24) on Friday, hitting GBX 4,151 ($54.24). 5,165,972 shares of the stock traded hands, compared to its average volume of 4,860,000. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60. The stock has a market capitalization of $53.09 billion and a P/E ratio of 5.27. Rio Tinto has a twelve month low of GBX 3,460.50 ($45.22) and a twelve month high of GBX 4,541 ($59.34).

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 11 shares of Rio Tinto stock in a transaction dated Tuesday, January 22nd. The shares were sold at an average price of GBX 3,862 ($50.46), for a total value of £424.82 ($555.10).

Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, iron ore, thermal and metallurgical coal, and uranium, as well as industrial minerals, such as borates, titanium dioxide, and salt.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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