JPMorgan Chase & Co. Issues Pessimistic Forecast for Rio Tinto Group (LON:RIO) Stock Price

Key Points

• JPMorgan Chase & Co. has reduced its price target for Rio Tinto Group from GBX 5,570 ($73.85) to GBX 5,450 ($72.26), maintaining an "overweight" rating on the stock.
• The stock currently has an average rating of "Moderate Buy" with a consensus price target of GBX 5,358.33 ($71.05) based on five analysts' ratings, including "hold" and "buy" classifications.
• As of Thursday, Rio Tinto Group shares opened at GBX 4,419.50 ($58.60) and have a one-year trading range of GBX 4,024.50 ($53.36) to GBX 5,474 ($72.58).

Rio Tinto Group (LON:RIO - Free Report) had its target price cut by JPMorgan Chase & Co. from GBX 5,570 ($73.93) to GBX 5,450 ($72.34) in a report released on Thursday, MarketBeat Ratings reports. They currently have an overweight rating on the stock.

Several other equities analysts also recently issued reports on RIO. Royal Bank Of Canada reiterated a "neutral" rating and set a GBX 4,700 ($62.38) price objective on shares of Rio Tinto Group in a research report on Tuesday, July 15th. Deutsche Bank Aktiengesellschaft reduced their price objective on Rio Tinto Group from GBX 5,500 ($73.00) to GBX 5,300 ($70.35) and set a "buy" rating for the company in a research report on Wednesday, July 2nd. Finally, Berenberg Bank reiterated a "hold" rating and set a GBX 4,700 ($62.38) price objective on shares of Rio Tinto Group in a research report on Thursday, July 17th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Rio Tinto Group has a consensus rating of "Hold" and a consensus price target of GBX 5,325 ($70.68).

Rio Tinto Group Stock Down 0.5%

Rio Tinto Group stock traded down GBX 21.39 ($0.28) during midday trading on Thursday, hitting GBX 4,482.11 ($59.49). The stock had a trading volume of 2,294,416 shares, compared to its average volume of 5,730,252. The company has a current ratio of 1.70, a quick ratio of 1.34 and a debt-to-equity ratio of 25.28. The stock has a market cap of £94.05 billion, a P/E ratio of 8.49, a P/E/G ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 12 month low of GBX 4,024.50 ($53.42) and a 12 month high of GBX 5,474 ($72.66). The business has a fifty day moving average price of GBX 4,395.67 and a 200 day moving average price of GBX 4,605.02.

About Rio Tinto Group