JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Rio Tinto Group (LON:RIO) Stock

Rio Tinto Group (LON:RIO) had its price target raised by equities researchers at JPMorgan Chase & Co. from GBX 7,030 to GBX 7,200 in a research note issued on Wednesday,Digital Look reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price indicates a potential downside of 2.93% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Berenberg Bank lowered their price target on shares of Rio Tinto Group from GBX 6,700 to GBX 6,600 and set a “hold” rating on the stock in a report on Wednesday. Citigroup boosted their target price on shares of Rio Tinto Group from GBX 7,000 to GBX 7,200 and gave the company a “neutral” rating in a report on Monday, April 13th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a GBX 6,400 price target on shares of Rio Tinto Group in a research report on Friday, April 17th. Five analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of GBX 6,500.

Rio Tinto Group Stock Up 1.7%

RIO stock traded up GBX 127 during mid-day trading on Wednesday, reaching GBX 7,417. 26,866,381 shares of the company traded hands, compared to its average volume of 38,715,293. The stock has a market cap of £120.61 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of -0.64 and a beta of 0.64. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 39.51. Rio Tinto Group has a fifty-two week low of GBX 4,110 and a fifty-two week high of GBX 7,575. The firm’s 50 day moving average price is GBX 7,012.81 and its 200 day moving average price is GBX 6,213.49.

Insiders Place Their Bets

In other news, insider Peter Cunningham sold 6 shares of the stock in a transaction that occurred on Friday, April 17th. The shares were sold at an average price of GBX 7,311, for a total transaction of £438.66. Company insiders own 0.10% of the company’s stock.

Rio Tinto Group Company Profile

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.