JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Rio Tinto Group (LON:RIO) Stock

Rio Tinto Group (LON:RIO) had its price objective raised by equities researchers at JPMorgan Chase & Co. from GBX 6,100 to GBX 6,950 in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 26.50% from the company’s previous close.

A number of other brokerages have also recently issued reports on RIO. Citigroup raised their target price on shares of Rio Tinto Group from GBX 4,600 to GBX 5,700 and gave the stock a “neutral” rating in a report on Monday, November 17th. Berenberg Bank reiterated a “hold” rating and set a GBX 5,200 price target on shares of Rio Tinto Group in a research report on Wednesday, October 15th. Finally, Royal Bank Of Canada reduced their price objective on Rio Tinto Group from GBX 5,000 to GBX 4,900 and set a “sector perform” rating for the company in a research report on Monday. Two research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, Rio Tinto Group presently has a consensus rating of “Hold” and a consensus target price of GBX 5,708.33.

Rio Tinto Group Stock Down 0.2%

Shares of Rio Tinto Group stock opened at GBX 5,494 on Wednesday. The business has a 50-day moving average price of GBX 5,238.66 and a 200 day moving average price of GBX 4,751.15. Rio Tinto Group has a fifty-two week low of GBX 4,024.50 and a fifty-two week high of GBX 5,662. The firm has a market cap of £89.27 billion, a P/E ratio of 8.75, a P/E/G ratio of -0.64 and a beta of 0.59. The company has a quick ratio of 1.34, a current ratio of 1.70 and a debt-to-equity ratio of 25.28.

Insider Activity

In other news, insider Peter Cunningham sold 3,108 shares of Rio Tinto Group stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of GBX 5,464, for a total transaction of £169,821.12. Company insiders own 0.10% of the company’s stock.

Rio Tinto Group Company Profile

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero.