JPMorgan Chase & Co. Reiterates “Overweight” Rating for Rio Tinto (RIO)

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JPMorgan Chase & Co. reaffirmed their overweight rating on shares of Rio Tinto (LON:RIO) in a research note published on Wednesday, Digital Look reports.

A number of other equities research analysts also recently issued reports on the company. Deutsche Bank restated a hold rating and set a GBX 4,250 ($55.53) price target on shares of Rio Tinto in a research note on Thursday, February 28th. Goldman Sachs Group upgraded Rio Tinto to a buy rating and boosted their price target for the company from GBX 4,100 ($53.57) to GBX 5,000 ($65.33) in a research note on Tuesday, February 12th. Royal Bank of Canada set a GBX 3,100 ($40.51) price target on Rio Tinto and gave the company a sell rating in a research note on Friday, January 25th. Credit Suisse Group restated a neutral rating on shares of Rio Tinto in a research note on Monday, May 6th. Finally, Oddo Securities upgraded Rio Tinto to a neutral rating and boosted their price target for the company from GBX 3,800 ($49.65) to GBX 4,400 ($57.49) in a research note on Monday, February 25th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of GBX 4,418.55 ($57.74).

LON RIO opened at GBX 4,673 ($61.06) on Wednesday. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 4,790.50 ($62.60). The stock has a market capitalization of $58.91 billion and a P/E ratio of 5.93. The company has a quick ratio of 1.51, a current ratio of 1.92 and a debt-to-equity ratio of 25.60.

In other news, insider Jean-Sébastien Jacques sold 8 shares of Rio Tinto stock in a transaction dated Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total transaction of £367.68 ($480.44).

Rio Tinto Company Profile

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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