Rio Tinto Group’s (RIO) Buy Rating Reaffirmed at Bank of America

Bank of America reaffirmed their buy rating on shares of Rio Tinto Group (LON:RIO) in a report released on Wednesday morning, Marketbeat reports. Bank of America currently has a GBX 7,700 ($97.68) target price on the stock.

Several other equities analysts have also commented on the company. JPMorgan Chase & Co. lowered their price objective on Rio Tinto Group from GBX 6,630 ($84.11) to GBX 6,610 ($83.85) and set an overweight rating for the company in a research report on Thursday, April 18th. Barclays reissued an overweight rating and set a GBX 6,000 ($76.11) price target on shares of Rio Tinto Group in a research report on Tuesday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a buy rating and set a GBX 6,200 ($78.65) target price on shares of Rio Tinto Group in a research note on Tuesday, June 18th. Berenberg Bank reaffirmed a buy rating and set a GBX 5,900 ($74.84) price target on shares of Rio Tinto Group in a report on Wednesday, June 12th. Finally, Citigroup reiterated a neutral rating on shares of Rio Tinto Group in a report on Monday, June 17th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Rio Tinto Group presently has a consensus rating of Moderate Buy and an average price target of GBX 6,326.25 ($80.25).

Rio Tinto Group Stock Down 0.9 %

Shares of LON RIO opened at GBX 5,221 ($66.23) on Wednesday. The firm has a fifty day simple moving average of GBX 5,446.72 and a two-hundred day simple moving average of GBX 5,375.49. Rio Tinto Group has a 12 month low of GBX 4,509.50 ($57.21) and a 12 month high of GBX 5,910 ($74.97). The company has a current ratio of 1.69, a quick ratio of 1.34 and a debt-to-equity ratio of 25.47. The firm has a market capitalization of £65.26 billion, a PE ratio of 1,097.29, a price-to-earnings-growth ratio of -0.64 and a beta of 0.63.

Rio Tinto Group Company Profile

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.