Rio Tinto (LON:RIO) Rating Lowered to Underperform at Royal Bank of Canada

Royal Bank of Canada downgraded shares of Rio Tinto (LON:RIO) from a sector perform rating to an underperform rating in a research report released on Tuesday, Borsen Zeitung reports. They currently have GBX 3,300 ($43.41) target price on the stock, down from their previous target price of GBX 3,800 ($49.99).

A number of other research firms also recently commented on RIO. Societe Generale decreased their price objective on shares of Rio Tinto from GBX 4,460 ($58.67) to GBX 4,100 ($53.93) and set a hold rating for the company in a report on Monday, December 16th. Goldman Sachs Group reaffirmed a buy rating and issued a GBX 4,900 ($64.46) price objective on shares of Rio Tinto in a report on Tuesday, January 21st. HSBC set a GBX 4,630 ($60.91) price objective on shares of Rio Tinto and gave the stock a neutral rating in a report on Monday, January 6th. Citigroup reaffirmed a buy rating on shares of Rio Tinto in a report on Friday, November 1st. Finally, Morgan Stanley reaffirmed a neutral rating and issued a GBX 4,300 ($56.56) price objective on shares of Rio Tinto in a report on Friday, January 17th. Six equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus target price of GBX 4,340.05 ($57.09).

Rio Tinto stock opened at GBX 4,197 ($55.21) on Tuesday. The company has a market cap of $52.74 billion and a PE ratio of 5.26. The company has a fifty day moving average price of GBX 4,400.85 and a two-hundred day moving average price of GBX 4,261.02. The company has a debt-to-equity ratio of 31.97, a current ratio of 1.52 and a quick ratio of 1.17. Rio Tinto has a 12 month low of GBX 3,900.50 ($51.31) and a 12 month high of GBX 5,039 ($66.29).

In related news, insider Jakob Stausholm acquired 8 shares of the business’s stock in a transaction that occurred on Friday, January 17th. The shares were acquired at an average cost of GBX 4,666 ($61.38) per share, for a total transaction of £373.28 ($491.03). Also, insider Jean-Sébastien Jacques sold 12,347 shares of Rio Tinto stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of GBX 4,226 ($55.59), for a total transaction of £521,784.22 ($686,377.56).

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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