JPMorgan Chase & Co. Has Lowered Expectations 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 price objective lowered by JPMorgan Chase & Co. from GBX 5,570 ($73.96) to GBX 5,450 ($72.37) in a research note published on Thursday morning, MarketBeat Ratings reports. The brokerage currently has an overweight rating on the stock.

RIO has been the subject of several other reports. Berenberg Bank reiterated a "hold" rating and set a GBX 4,700 ($62.41) price objective on shares of Rio Tinto Group in a report on Thursday, July 17th. Royal Bank Of Canada restated a "neutral" rating and set a GBX 4,700 ($62.41) target price on shares of Rio Tinto Group in a report on Tuesday, July 15th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Rio Tinto Group from GBX 5,500 ($73.03) to GBX 5,300 ($70.38) and set a "buy" rating on the stock in a research report on Wednesday, July 2nd. Four research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of GBX 5,325 ($70.71).

Rio Tinto Group Stock Performance

RIO stock traded up GBX 7.39 ($0.10) on Thursday, reaching GBX 4,489.50 ($59.61). The company's stock had a trading volume of 5,396,392 shares, compared to its average volume of 5,744,621. The firm has a fifty day moving average of GBX 4,395.67 and a two-hundred day moving average of GBX 4,600.44. The company has a debt-to-equity ratio of 25.28, a current ratio of 1.70 and a quick ratio of 1.34. The company has a market capitalization of £94.21 billion, a P/E ratio of 8.50, a price-to-earnings-growth ratio of -0.64 and a beta of 0.59. Rio Tinto Group has a 52 week low of GBX 4,024.50 ($53.44) and a 52 week high of GBX 5,474 ($72.69).

About Rio Tinto Group