Rio Tinto Group (LON:RIO) Earns “Buy” Rating from Bank of America

Rio Tinto Group (LON:RIO)‘s stock had its “buy” rating reaffirmed by equities research analysts at Bank of America in a report released on Wednesday, LSE.Co.UK reports. They presently have a GBX 7,700 ($95.85) price target on the stock. Bank of America‘s price objective suggests a potential upside of 42.84% from the company’s current price.

Several other brokerages also recently issued reports on RIO. Berenberg Bank reissued a “buy” rating and set a GBX 6,200 ($77.18) price target on shares of Rio Tinto Group in a report on Monday, February 19th. Royal Bank of Canada reduced their price target on shares of Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a “sector perform” rating for the company in a report on Thursday, February 22nd. Finally, JPMorgan Chase & Co. reissued an “overweight” rating on shares of Rio Tinto Group in a report on Tuesday, April 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of GBX 6,442.50 ($80.20).

Rio Tinto Group Stock Performance

Rio Tinto Group stock traded up GBX 136.67 ($1.70) during mid-day trading on Wednesday, reaching GBX 5,390.67 ($67.11). The company’s stock had a trading volume of 3,403,347 shares, compared to its average volume of 3,119,627. The firm has a market cap of £67.38 billion, a price-to-earnings ratio of 1,097.96, a PEG ratio of -0.64 and a beta of 0.65. The business has a 50 day moving average price of GBX 5,114.51 and a 200-day moving average price of GBX 5,311.22. The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. Rio Tinto Group has a twelve month low of GBX 4,509.50 ($56.14) and a twelve month high of GBX 5,910 ($73.57).

Insider Buying and Selling at Rio Tinto Group

In other Rio Tinto Group news, insider Peter Cunningham sold 3,939 shares of Rio Tinto Group stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total transaction of £205,458.24 ($255,767.76). Company insiders own 14.71% of the company’s stock.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.