Royal Bank of Canada set a GBX 4,200 ($51.69) price target on Rio Tinto (LON:RIO) in a research note published on Wednesday, Borsen Zeitung reports. The firm currently has a neutral rating on the stock.
RIO has been the subject of a number of other research reports. Societe Generale upped their price objective on shares of Rio Tinto from GBX 4,100 ($50.46) to GBX 4,240 ($52.18) and gave the stock a buy rating in a research report on Thursday, April 23rd. Credit Suisse Group upped their price target on shares of Rio Tinto from GBX 3,700 ($45.53) to GBX 3,900 ($47.99) and gave the stock an underperform rating in a research note on Monday, July 6th. Jefferies Financial Group upped their price target on shares of Rio Tinto from GBX 5,200 ($63.99) to GBX 5,400 ($66.45) and gave the stock a buy rating in a research note on Monday, July 6th. Morgan Stanley reaffirmed an equal weight rating on shares of Rio Tinto in a research note on Monday, July 13th. Finally, JPMorgan Chase & Co. reaffirmed a neutral rating and set a GBX 5,500 ($67.68) price target on shares of Rio Tinto in a research note on Tuesday, July 21st. Three analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Rio Tinto has an average rating of Hold and a consensus price target of GBX 4,538 ($55.85).
Shares of Rio Tinto stock opened at GBX 4,615 ($56.79) on Wednesday. The company has a market cap of $57.53 billion and a P/E ratio of 9.46. The company has a debt-to-equity ratio of 31.20, a quick ratio of 1.22 and a current ratio of 1.56. Rio Tinto has a one year low of GBX 44.87 ($0.55) and a one year high of GBX 5,152 ($63.40). The firm has a fifty day moving average of GBX 4,638.59 and a two-hundred day moving average of GBX 4,128.83.
The firm also recently disclosed a dividend, which will be paid on Thursday, September 17th. Investors of record on Thursday, August 6th will be paid 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 payout ratio is 61.71%.
In related news, insider Jean-Sébastien Jacques sold 13,324 shares of the 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).
About Rio Tinto
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.
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