Royal Bank of Canada downgraded shares of Rio Tinto (LON:RIO) from a sector perform rating to an underperform rating in a research note published on Tuesday, Borsen Zeitung reports. The brokerage currently has GBX 3,300 ($43.41) target price on the stock, down from their prior target price of GBX 3,800 ($49.99).
Other equities research analysts have also recently issued reports about the stock. Citigroup reissued a buy rating on shares of Rio Tinto in a research note on Friday, November 1st. Credit Suisse Group reissued an underperform rating and issued a GBX 3,820 ($50.25) price objective (down from GBX 4,340 ($57.09)) on shares of Rio Tinto in a research note on Monday, October 14th. JPMorgan Chase & Co. raised their price target on shares of Rio Tinto from GBX 4,850 ($63.80) to GBX 4,890 ($64.33) and gave the stock a neutral rating in a research note on Friday, January 17th. Deutsche Bank reaffirmed a hold rating and set a GBX 4,450 ($58.54) price target on shares of Rio Tinto in a research note on Tuesday, January 28th. Finally, HSBC set a GBX 4,630 ($60.91) price target on shares of Rio Tinto and gave the stock a neutral rating in a research note on Monday, January 6th. Six analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus price target of GBX 4,340.05 ($57.09).
Shares of LON RIO opened at GBX 4,197 ($55.21) on Tuesday. The stock has a market cap of $52.74 billion and a price-to-earnings ratio of 5.26. Rio Tinto has a 52 week low of GBX 3,900.50 ($51.31) and a 52 week high of GBX 5,039 ($66.29). The company’s 50-day moving average price is GBX 4,400.85 and its 200 day moving average price is GBX 4,261.02. The company has a current ratio of 1.52, a quick ratio of 1.17 and a debt-to-equity ratio of 31.97.
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: Gross Domestic Product (GDP)
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