JPMorgan Chase & Co. Upgrades Rio Tinto Group (LON:RIO) to “Neutral”

Rio Tinto Group (LON:RIO) was upgraded by analysts at JPMorgan Chase & Co. to a “neutral” rating in a research note issued to investors on Wednesday,Digital Look reports. The firm currently has a GBX 8,270 price objective on the stock, up from their prior price objective of GBX 8,250. JPMorgan Chase & Co.‘s target price points to a potential upside of 20.52% from the stock’s previous close.

Other research analysts also recently issued research reports about the company. Shore Capital Group cut their price target on Rio Tinto Group from GBX 7,400 to GBX 6,900 and set a “hold” rating for the company in a research note on Tuesday, June 2nd. Royal Bank Of Canada lowered their price objective on Rio Tinto Group from GBX 6,300 to GBX 6,100 and set an “underperform” rating on the stock in a research note on Thursday, July 16th. Citigroup dropped their price objective on shares of Rio Tinto Group from GBX 8,280 to GBX 8,250 and set a “neutral” rating on the stock in a report on Friday, July 10th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a GBX 7,400 target price on shares of Rio Tinto Group in a research report on Wednesday, July 1st. Finally, Berenberg Bank reduced their target price on shares of Rio Tinto Group from GBX 8,200 to GBX 8,100 and set a “hold” rating for the company in a research note on Thursday, July 16th. Six equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rio Tinto Group currently has a consensus rating of “Reduce” and an average price target of GBX 7,645.71.

Rio Tinto Group Trading Up 1.3%

LON:RIO opened at GBX 6,862 on Wednesday. The stock has a market capitalization of £111.59 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of -0.64 and a beta of 0.65. The firm’s 50 day moving average is GBX 7,434.24 and its 200 day moving average is GBX 7,108.28. The company has a current ratio of 1.44, a quick ratio of 1.34 and a debt-to-equity ratio of 37.79. Rio Tinto Group has a 12 month low of GBX 4,344.50 and a 12 month high of GBX 8,325.

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.