Credit Suisse Group Increases Rio Tinto (RIO) Price Target to GBX 4,340

Rio Tinto (LON:RIO) had its target price upped by Credit Suisse Group from GBX 3,870 ($50.57) to GBX 4,340 ($56.71) in a research report report published on Tuesday morning, Borsen Zeitung reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also weighed in 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 report on Thursday, February 28th. JPMorgan Chase & Co. set a GBX 5,300 ($69.25) price target on Rio Tinto and gave the company a buy rating in a research report on Wednesday, April 10th. Goldman Sachs Group upgraded Rio Tinto to a buy rating and lifted their price target for the company from GBX 4,100 ($53.57) to GBX 5,000 ($65.33) in a research report 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 report on Friday, January 25th. Finally, Oddo Securities upgraded Rio Tinto to a neutral rating and lifted their price target for the company from GBX 3,800 ($49.65) to GBX 4,400 ($57.49) in a research report on Monday, February 25th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and six have given a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of GBX 4,418.55 ($57.74).

RIO opened at GBX 4,673 ($61.06) on Tuesday. The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92. Rio Tinto has a 52-week low of GBX 3,460.50 ($45.22) and a 52-week high of GBX 4,790.50 ($62.60). The company has a market cap of $58.92 billion and a PE ratio of 5.93.

The business also recently announced a dividend, which was paid on Thursday, April 18th. Shareholders of record on Thursday, March 7th were issued a GBX 319.51 ($4.17) dividend. This represents a yield of 7.28%. This is an increase from Rio Tinto’s previous dividend of $96.82. The ex-dividend date of this dividend was Thursday, March 7th. Rio Tinto’s payout ratio is 0.30%.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 8 shares of the business’s stock in a transaction on Wednesday, April 24th. The stock was sold at an average price of GBX 4,596 ($60.05), for a total value 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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