Credit Suisse Group Downgrades Rio Tinto (RIO) to Neutral

Rio Tinto (LON:RIO) was downgraded by Credit Suisse Group to a “neutral” rating in a research report issued on Friday.

RIO has been the topic of several other reports. Deutsche Bank reiterated a “hold” rating on shares of Rio Tinto in a report on Friday, January 11th. Liberum Capital lowered Rio Tinto to a “sell” rating in a report on Wednesday, November 14th. UBS Group reiterated a “buy” rating and set a GBX 4,600 ($60.11) target price on shares of Rio Tinto in a report on Friday, November 30th. JPMorgan Chase & Co. set a GBX 5,000 ($65.33) target price on Rio Tinto and gave the company a “buy” rating in a research report on Tuesday, October 23rd. Finally, Royal Bank of Canada reaffirmed an “underperform” rating and issued a GBX 3,200 ($41.81) target price on shares of Rio Tinto in a research report on Friday, October 12th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of GBX 4,117.67 ($53.80).

LON:RIO opened at GBX 4,271 ($55.81) on Friday. Rio Tinto has a 12-month low of GBX 2,882.50 ($37.66) and a 12-month high of GBX 4,226.56 ($55.23).

In other Rio Tinto news, insider Jakob Stausholm sold 15,000 shares of the business’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of GBX 3,664 ($47.88), for a total transaction of £549,600 ($718,149.75). Also, insider Jean-Sébastien Jacques sold 11 shares of the business’s stock in a transaction that occurred on Tuesday, January 22nd. The stock was sold at an average price of GBX 3,862 ($50.46), for a total value of £424.82 ($555.10). In the last three months, insiders have sold 26,262 shares of company stock worth $97,204,983.

About Rio Tinto

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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