Rio Tinto Group (LON:RIO) Given Buy Rating at Bank of America

Rio Tinto Group (LON:RIO - Get Free Report)'s stock had its "buy" rating reiterated by Bank of America in a note issued to investors on Wednesday, Marketbeat.com reports. They currently have a GBX 7,700 ($95.85) target price on the stock. Bank of America's price objective suggests a potential upside of 42.91% from the stock's current price.

A number of other research analysts also recently weighed in on the company. Berenberg Bank reiterated a "buy" rating and set a GBX 6,200 ($77.18) target price on shares of Rio Tinto Group in a report on Monday, February 19th. Royal Bank of Canada cut their price target on Rio Tinto Group from GBX 6,100 ($75.94) to GBX 5,900 ($73.45) and set a "sector perform" rating on the stock in a research note on Thursday, February 22nd. Finally, JPMorgan Chase & Co. restated an "overweight" rating on shares of Rio Tinto Group in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, Rio Tinto Group currently has an average rating of "Moderate Buy" and a consensus target price of GBX 6,442.50 ($80.20).

Rio Tinto Group Trading Up 2.6 %

RIO traded up GBX 134 ($1.67) during midday trading on Wednesday, reaching GBX 5,388 ($67.07). 3,298,706 shares of the company's stock traded hands, compared to its average volume of 2,999,108. Rio Tinto Group has a 52 week low of GBX 4,509.50 ($56.14) and a 52 week high of GBX 5,910 ($73.57). The firm has a fifty day moving average of GBX 5,114.51 and a two-hundred day moving average of GBX 5,311.22. The company has a debt-to-equity ratio of 25.47, a current ratio of 1.69 and a quick ratio of 1.34. The stock has a market capitalization of £67.35 billion, a price-to-earnings ratio of 1,097.90, a P/E/G ratio of -0.64 and a beta of 0.65.

Insider Activity

In related news, insider Peter Cunningham sold 3,939 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of GBX 5,216 ($64.93), for a total value of £205,458.24 ($255,767.76). Insiders own 14.71% of the company's stock.

About Rio Tinto Group

Rio Tinto Group engages in exploring, mining, and processing mineral resources worldwide. The company operates through Iron Ore, Aluminium, Copper, and Minerals Segments. The Iron Ore segment engages in the iron ore mining, and salt and gypsum production in Western Australia. The Aluminum segment is involved in bauxite mining; alumina refining; and aluminium smelting.