Deutsche Bank Cuts Rio Tinto (LON:RIO) Price Target to GBX 5,100

Rio Tinto (LON:RIO) had its price objective cut by Deutsche Bank from GBX 5,200 ($67.95) to GBX 5,100 ($66.64) in a report issued on Thursday morning, Borsen Zeitung reports. They currently have a hold rating on the stock.

RIO has been the topic of a number of other research reports. Barclays restated a sell rating and set a $5.00 price target on shares of Deutsche Bank in a research note on Wednesday. Citigroup set a $210.00 price target on Constellation Brands and gave the stock a hold rating in a research note on Monday, July 1st. BNP Paribas lowered Rio Tinto to an underperform rating and boosted their price target for the stock from GBX 4,300 ($56.19) to GBX 4,500 ($58.80) in a research note on Thursday, April 11th. Investec lowered Rio Tinto from a buy rating to a hold rating in a research note on Wednesday, April 17th. Finally, Shore Capital restated a buy rating on shares of in a research note on Thursday, June 6th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of GBX 4,502.68 ($58.84).

Shares of RIO stock opened at GBX 4,851 ($63.39) on Thursday. Rio Tinto has a fifty-two week low of GBX 3,460.50 ($45.22) and a fifty-two week high of GBX 5,039 ($65.84). The stock has a market capitalization of $61.56 billion and a price-to-earnings ratio of 6.16. The company has a debt-to-equity ratio of 25.60, a current ratio of 1.92 and a quick ratio of 1.51. The business’s 50-day simple moving average is GBX 4,745.75.

In other Rio Tinto news, insider Jean-Sébastien Jacques sold 4,011 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of GBX 4,510 ($58.93), for a total value of £180,896.10 ($236,372.79).

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.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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