Rio Tinto (LON:RIO) had its price objective boosted by JPMorgan Chase & Co. from GBX 5,500 ($67.68) to GBX 5,590 ($68.79) in a report issued on Wednesday morning, Borsen Zeitung reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.
A number of other equities research analysts also recently weighed in on RIO. Royal Bank of Canada set a GBX 4,200 ($51.69) price target on Rio Tinto and gave the company a neutral rating in a research report on Wednesday. Bank of America raised Rio Tinto to a buy rating and set a GBX 5,700 ($70.15) price objective on the stock in a research note on Friday, May 29th. UBS Group reaffirmed a neutral rating and set a GBX 4,400 ($54.15) price objective on shares of Rio Tinto in a research note on Monday, July 27th. Societe Generale raised their price objective on Rio Tinto from GBX 4,100 ($50.46) to GBX 4,240 ($52.18) and gave the company a buy rating in a research note on Thursday, April 23rd. Finally, Jefferies Financial Group raised their price objective on Rio Tinto from GBX 5,200 ($63.99) to GBX 5,400 ($66.45) and gave the company a buy rating in a research note on Monday, July 6th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has an average rating of Hold and an average price target of GBX 4,538 ($55.85).
LON RIO opened at GBX 4,615 ($56.79) on Wednesday. The stock’s 50-day simple moving average is GBX 4,638.59 and its two-hundred day simple moving average is GBX 4,128.83. Rio Tinto has a twelve month low of GBX 44.87 ($0.55) and a twelve month high of GBX 5,152 ($63.40). The company has a quick ratio of 1.22, a current ratio of 1.56 and a debt-to-equity ratio of 31.20. The company has a market capitalization of $57.53 billion and a price-to-earnings ratio of 9.46.
The business also recently disclosed a dividend, which will be paid on Thursday, September 17th. Shareholders of record on Thursday, August 6th will be issued a GBX 119.74 ($1.47) dividend. The ex-dividend date is Thursday, August 6th. This represents a yield of 2.5%. Rio Tinto’s dividend payout ratio (DPR) is presently 61.71%.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 13,324 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of GBX 4,372 ($53.80), for a total value of £582,525.28 ($716,865.96).
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.
Further Reading: How accurate is the Rule of 72?
Receive News & Ratings for Rio Tinto Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto and related companies with MarketBeat.com's FREE daily email newsletter.