Rio Tinto Group (LON:RIO) PT Set at GBX 4,700 by Royal Bank of Canada

Rio Tinto Group (LON:RIO – Get Rating) has been assigned a GBX 4,700 ($57.57) price objective by investment analysts at Royal Bank of Canada in a note issued to investors on Wednesday, Borsen Zeitung reports. Royal Bank of Canada’s target price would suggest a potential downside of 4.28% from the stock’s previous close.

Other equities analysts also recently issued reports about the company. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a GBX 6,000 ($73.49) target price on shares of Rio Tinto Group in a research report on Thursday, May 19th. Barclays reaffirmed an “underweight” rating and set a GBX 4,800 ($58.79) price target on shares of Rio Tinto Group in a research report on Monday, May 16th. Morgan Stanley reaffirmed an “overweight” rating on shares of Rio Tinto Group in a research report on Wednesday, May 11th. The Goldman Sachs Group set a GBX 7,300 ($89.42) price target on Rio Tinto Group in a research report on Wednesday, June 8th. Finally, UBS Group set a GBX 5,200 ($63.69) price target on Rio Tinto Group in a research report on Thursday, April 21st. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of “Hold” and an average price target of GBX 5,850.77 ($71.67).

LON RIO opened at GBX 4,910 ($60.14) on Wednesday. The company has a debt-to-equity ratio of 23.91, a current ratio of 1.94 and a quick ratio of 1.46. The stock’s fifty day moving average price is GBX 5,578.10 and its 200 day moving average price is GBX 5,517.39. Rio Tinto Group has a 1 year low of GBX 4,354 ($53.33) and a 1 year high of GBX 6,343 ($77.69). The company has a market cap of £79.57 billion and a price-to-earnings ratio of 4.63.

In other news, insider Peter Cunningham sold 762 shares of the stock in a transaction dated Monday, May 16th. The shares were sold at an average price of GBX 5,370 ($65.78), for a total transaction of £40,919.40 ($50,121.75).

Rio Tinto Group Company Profile (Get Rating)

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company offers aluminum, copper, diamonds, gold, borates, titanium dioxide, salt, iron ore, and lithium. It also owns and operates open pit and underground mines, mills, refineries, smelters, power stations, and research and service facilities.

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