JPMorgan Chase & Co. Lowers Rio Tinto Group (LON:RIO) Price Target to GBX 8,200

Rio Tinto Group (LON:RIO - Get Free Report) had its price target reduced by research analysts at JPMorgan Chase & Co. from GBX 8,270 to GBX 8,200 in a research report issued on Tuesday,Digital Look reports. The brokerage presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 20.27% from the company's current price.

Several other research analysts also recently weighed in on the stock. Royal Bank Of Canada reduced their price target on shares of Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an "underperform" rating for the company in a research report on Thursday, July 16th. Berenberg Bank lowered their price objective on Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a "hold" rating on the stock in a report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a GBX 7,400 price objective on shares of Rio Tinto Group in a research note on Wednesday, July 1st. Jefferies Financial Group reissued a "hold" rating and set a GBX 8,500 target price on shares of Rio Tinto Group in a report on Tuesday, June 9th. Finally, Shore Capital Group lowered their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a "hold" rating on the stock in a research note on Tuesday, June 2nd. Six research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average target price of GBX 7,635.71.

Rio Tinto Group Stock Down 0.2%

Shares of LON RIO opened at GBX 6,818 on Tuesday. The company's 50-day simple moving average is GBX 7,345.06 and its 200-day simple moving average is GBX 7,129.90. Rio Tinto Group has a 52-week low of GBX 4,344.50 and a 52-week high of GBX 8,325. The firm has a market cap of £110.88 billion, a price-to-earnings ratio of 11.21, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The company has a quick ratio of 1.34, a current ratio of 1.44 and a debt-to-equity ratio of 37.79.

Insiders Place Their Bets

In other Rio Tinto Group news, insider Peter Cunningham sold 4 shares of the firm's stock in a transaction that occurred on Friday, July 17th. The shares were sold at an average price of GBX 6,640, for a total value of £265.60. 0.10% of the stock is owned by company insiders.

About Rio Tinto Group

We operate in 35 countries where our 60,000 employees are working to find better ways to provide the materials the world needs. Our portfolio includes iron ore, copper, aluminium and a range of other minerals and materials needed for people, communities and nations to grow and prosper, and for the world to cut carbon emissions to net zero. We continuously search for new projects that can support the energy transition, currently exploring for 7 commodities in 17 countries. We have more than 150 years of mining and processing experience guiding our work.

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