Rio Tinto (LON:RIO) has been given a GBX 4,400 ($57.49) target price by equities research analysts at Morgan Stanley in a note issued to investors on Tuesday, Borsen Zeitung reports. The brokerage presently has a “neutral” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 6.51% from the company’s previous close.
A number of other analysts have also recently issued reports on RIO. Goldman Sachs Group cut their target price on shares of Rio Tinto from GBX 4,200 ($54.88) to GBX 4,100 ($53.57) and set a “neutral” rating for the company in a research note on Friday, January 18th. JPMorgan Chase & Co. raised their target price on shares of Rio Tinto from GBX 5,000 ($65.33) to GBX 5,050 ($65.99) and gave the stock an “overweight” rating in a research note on Thursday, January 31st. Canaccord Genuity restated a “buy” rating and set a GBX 4,450 ($58.15) target price on shares of Rio Tinto in a research note on Wednesday, February 27th. HSBC set a GBX 4,755 ($62.13) target price on shares of Rio Tinto and gave the stock a “buy” rating in a research note on Friday, January 18th. Finally, Liberum Capital restated a “sell” rating on shares of Rio Tinto in a research note on Tuesday, January 15th. Four equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and five have assigned a buy rating to the stock. Rio Tinto currently has a consensus rating of “Hold” and an average target price of GBX 4,356.90 ($56.93).
Shares of RIO opened at GBX 4,706.50 ($61.50) on Tuesday. Rio Tinto has a one year low of GBX 3,460.50 ($45.22) and a one year high of GBX 4,772.50 ($62.36). The stock has a market capitalization of $59.36 billion and a PE ratio of 5.98. 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 related news, insider Jean-Sébastien Jacques sold 13,090 shares of Rio Tinto stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of GBX 4,327 ($56.54), for a total transaction of £566,404.30 ($740,107.54).
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.
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