Rio Tinto Group (LON:RIO) Stock Rating Upgraded by JPMorgan Chase & Co.

Rio Tinto Group (LON:RIO) was upgraded by analysts at JPMorgan Chase & Co. to a “neutral” rating in a note issued to investors on Wednesday,Digital Look reports. The firm presently has a GBX 8,270 price objective on the stock, up from their previous price objective of GBX 8,250. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 20.62% from the stock’s current price.

Several other equities research analysts have also issued reports on the company. Jefferies Financial Group reiterated a “hold” rating and set a GBX 8,500 target price on shares of Rio Tinto Group in a research note on Tuesday, June 9th. Shore Capital Group decreased their price objective on shares of Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a report on Tuesday, June 2nd. Royal Bank Of Canada lowered their price objective on shares of Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating on the stock in a research report on Thursday, July 16th. Citigroup dropped their target price on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a research note on Friday, July 10th. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of “Reduce” and an average target price of GBX 7,645.71.

Rio Tinto Group Stock Performance

Shares of RIO opened at GBX 6,856 on Wednesday. The stock has a 50 day moving average of GBX 7,380.90 and a 200 day moving average of GBX 7,120.62. The company has a market capitalization of £111.50 billion, a price-to-earnings ratio of 11.27, a PEG ratio of -0.64 and a beta of 0.65. Rio Tinto Group has a 12 month low of GBX 4,344.50 and a 12 month high of GBX 8,325. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 37.79.

Insider Activity

In related news, insider Peter Cunningham sold 4 shares of the stock in a transaction on Friday, July 17th. The stock was sold at an average price of GBX 6,640, for a total value of £265.60. Corporate 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. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries.

We have more than 150 years of mining and processing experience guiding our work.