Rio Tinto (LON:RIO)‘s stock had its “buy” rating reiterated by analysts at Goldman Sachs Group in a research note issued on Tuesday, Borsen Zeitung reports. They currently have a GBX 4,900 ($64.46) price objective on the stock. Goldman Sachs Group’s price target would suggest a potential upside of 6.33% from the stock’s previous close.
Several other brokerages have also recently weighed in on RIO. Barclays reiterated an “underweight” rating and issued a GBX 3,600 ($47.36) price objective on shares of Rio Tinto in a research note on Wednesday, January 15th. Independent Research dropped their price objective on shares of Rio Tinto from GBX 4,500 ($59.19) to GBX 4,300 ($56.56) and set a “hold” rating for the company in a research note on Monday, October 21st. Deutsche Bank lifted their price objective on shares of Rio Tinto from GBX 4,400 ($57.88) to GBX 4,450 ($58.54) and gave the stock a “hold” rating in a research note on Thursday, January 9th. Societe Generale dropped their price objective on shares of Rio Tinto from GBX 4,460 ($58.67) to GBX 4,100 ($53.93) and set a “hold” rating for the company in a research note on Monday, December 16th. Finally, Bank of America reiterated an “underperform” rating on shares of Rio Tinto in a research note on Tuesday, October 8th. Five equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of GBX 4,363.86 ($57.40).
Rio Tinto stock traded down GBX 68.50 ($0.90) during midday trading on Tuesday, hitting GBX 4,608.50 ($60.62). The company’s stock had a trading volume of 2,144,653 shares, compared to its average volume of 4,860,000. Rio Tinto has a 1-year low of GBX 3,750 ($49.33) and a 1-year high of GBX 5,039 ($66.29). The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17. The company has a 50-day moving average price of GBX 4,447.09 and a two-hundred day moving average price of GBX 4,330.87. The company has a market cap of $57.68 billion and a price-to-earnings ratio of 5.78.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 12,347 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of GBX 4,226 ($55.59), for a total value of £521,784.22 ($686,377.56).
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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