Deutsche Bank Downgrades Rio Tinto (RIO) to Hold

Deutsche Bank cut shares of Rio Tinto (LON:RIO) to a hold rating in a research note published on Monday, MarketBeat Ratings reports. Deutsche Bank currently has GBX 4,700 ($62.57) price objective on the stock.

Several other brokerages have also issued reports on RIO. JPMorgan Chase & Co. set a GBX 4,200 ($55.92) price objective on Rio Tinto and gave the stock a neutral rating in a report on Tuesday, April 3rd. Morgan Stanley set a GBX 3,900 ($51.92) price objective on Rio Tinto and gave the stock a neutral rating in a report on Tuesday, April 3rd. Credit Suisse Group reiterated an outperform rating and set a GBX 4,300 ($57.25) price objective on shares of Rio Tinto in a report on Tuesday, February 27th. UBS Group set a GBX 4,000 ($53.26) target price on Rio Tinto and gave the company a buy rating in a report on Wednesday, March 28th. Finally, Citigroup restated a buy rating and set a GBX 4,050 ($53.92) target price on shares of Rio Tinto in a report on Wednesday, March 21st. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Rio Tinto currently has a consensus rating of Hold and a consensus price target of GBX 4,188.75 ($55.77).

Shares of LON:RIO opened at GBX 4,402 ($58.61) on Monday. Rio Tinto has a 1 year low of GBX 2,882.50 ($38.38) and a 1 year high of GBX 4,226.56 ($56.27).

In other Rio Tinto news, insider Simon Henry acquired 500 shares of the company’s stock in a transaction dated Tuesday, April 10th. The shares were acquired at an average cost of GBX 3,713 ($49.43) per share, for a total transaction of £18,565 ($24,717.08). Also, insider Jean-Sébastien Jacques sold 4,759 shares of Rio Tinto stock in a transaction dated Thursday, May 31st. The stock was sold at an average price of GBX 4,247 ($56.54), for a total value of £202,114.73 ($269,091.64).

About Rio Tinto

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, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

Analyst Recommendations for Rio Tinto (LON:RIO)

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