JPMorgan Chase & Co. Reiterates GBX 5,670 Price Target for Rio Tinto (LON:RIO)

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Rio Tinto (LON:RIO) received a GBX 5,670 ($74.09) price objective from analysts at JPMorgan Chase & Co. in a research report issued on Friday, Borsen Zeitung reports. The brokerage currently has a “buy” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.92% from the company’s current price.

Other research analysts have also recently issued research reports about the company. Societe Generale upgraded Anglo American to a “buy” rating in a research report on Thursday, May 23rd. Royal Bank of Canada reiterated an “average” rating and issued a $48.00 target price on shares of in a research report on Thursday, June 27th. Deutsche Bank set a $28.00 target price on Colfax and gave the company a “hold” rating in a research report on Wednesday. Morgan Stanley reiterated an “overweight” rating and issued a GBX 2,280 ($29.79) target price on shares of Anglo American in a research report on Wednesday, May 8th. Finally, UBS Group set a $13.00 target price on Freeport-McMoRan and gave the company a “hold” rating in a research report on Wednesday, June 26th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of GBX 4,500.58 ($58.81).

RIO stock opened at GBX 4,808.50 ($62.83) on Friday. The firm has a market capitalization of $61.04 billion and a P/E ratio of 6.11. The company has a 50-day moving average of GBX 4,721.59. Rio Tinto has a 52 week low of GBX 3,460.50 ($45.22) and a 52 week high of GBX 5,039 ($65.84). The company has a debt-to-equity ratio of 25.60, a quick ratio of 1.51 and a current ratio of 1.92.

In other news, insider Jean-S√©bastien Jacques sold 4,011 shares of the business’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of GBX 4,510 ($58.93), for a total transaction of ¬£180,896.10 ($236,372.79).

About Rio Tinto

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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