Royal Bank of Canada Analysts Give Rio Tinto (LON:RIO) a GBX 3,700 Price Target

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Royal Bank of Canada set a GBX 3,700 ($48.35) price target on Rio Tinto (LON:RIO) in a research report report published on Wednesday, Borsen Zeitung reports. The firm currently has a sell rating on the stock.

A number of other analysts also recently weighed in on the company. Bank of America restated an underperform rating on shares of Rio Tinto in a research report on Tuesday, October 8th. Goldman Sachs Group set a GBX 5,250 ($68.60) target price on Rio Tinto and gave the stock a buy rating in a research report on Thursday, August 1st. DZ Bank upgraded Rio Tinto to a buy rating and boosted their target price for the stock from GBX 4,500 ($58.80) to GBX 5,100 ($66.64) in a research report on Tuesday, August 6th. Credit Suisse Group restated an underperform rating and issued a GBX 3,820 ($49.92) target price (down previously from GBX 4,340 ($56.71)) on shares of Rio Tinto in a research report on Monday, October 14th. Finally, HSBC set a GBX 4,750 ($62.07) target price on Rio Tinto and gave the stock a buy rating in a research report on Wednesday. Six equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average price target of GBX 4,412.05 ($57.65).

LON:RIO opened at GBX 3,961.50 ($51.76) on Wednesday. The business has a 50 day moving average of GBX 4,142.21 and a 200 day moving average of GBX 4,461. The company has a market capitalization of $50.02 billion and a price-to-earnings ratio of 4.97. Rio Tinto has a 1-year low of GBX 3,489 ($45.59) and a 1-year high of GBX 5,039 ($65.84). The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the business’s stock in a transaction that occurred on Monday, July 22nd. The stock was sold at an average price of GBX 4,808 ($62.83), for a total value of £336.56 ($439.78).

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.

Further Reading: Fundamental Analysis

Analyst Recommendations for Rio Tinto (LON:RIO)

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