Barclays Reiterates Underweight Rating for Rio Tinto Group (LON:RIO)

Rio Tinto Group (LON:RIOGet Rating)‘s stock had its “underweight” rating restated by equities researchers at Barclays in a research report issued on Monday, reports. They currently have a GBX 4,800 ($59.17) price target on the stock. Barclays‘s price objective would indicate a potential downside of 12.25% from the stock’s previous close.

Several other equities research analysts have also recently issued reports on RIO. UBS Group set a GBX 5,200 ($64.10) price objective on shares of Rio Tinto Group in a research report on Thursday, April 21st. JPMorgan Chase & Co. reissued a “neutral” rating on shares of Rio Tinto Group in a report on Thursday, May 12th. Credit Suisse Group set a GBX 7,000 ($86.29) price target on shares of Rio Tinto Group in a report on Wednesday, May 4th. Deutsche Bank Rese… set a GBX 6,000 ($73.96) price objective on shares of Rio Tinto Group in a research note on Thursday, May 12th. Finally, Morgan Stanley reissued an “overweight” rating on shares of Rio Tinto Group in a research note on Wednesday, May 11th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Rio Tinto Group currently has a consensus rating of “Hold” and a consensus target price of GBX 5,922.31 ($73.01).

Shares of Rio Tinto Group stock opened at GBX 5,470 ($67.43) on Monday. The firm has a market capitalization of £88.64 billion and a PE ratio of 5.21. The company has a current ratio of 1.94, a quick ratio of 1.46 and a debt-to-equity ratio of 23.91. Rio Tinto Group has a twelve month low of GBX 4,354 ($53.67) and a twelve month high of GBX 6,876.26 ($84.77). The firm’s 50-day moving average price is GBX 5,735.09 and its 200 day moving average price is GBX 5,331.20.

In related news, insider Peter Cunningham sold 762 shares of the business’s stock in a transaction that occurred on Monday, May 16th. The stock was sold at an average price of GBX 5,370 ($66.20), for a total value of £40,919.40 ($50,443.05). Over the last ninety days, insiders sold 11,251 shares of company stock valued at $61,721,282.

Rio Tinto Group Company Profile (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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Analyst Recommendations for Rio Tinto Group (LON:RIO)

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