Rio Tinto plc -14.2% potential downside indicated by JP Morgan

Broker Ratings

Rio Tinto plc with ticker (LON:RIO) now has a potential downside of -14.2% according to JP Morgan.

JP Morgan set a target price of 5,380 GBX for the company, which when compared to the Rio Tinto plc share price of 6,146 GBX at opening today (22/02/2023) indicates a potential downside of -14.2%. Trading has ranged between 4,425 (52 week low) and 6,406 (52 week high) with an average of 2,825,119 shares exchanging hands daily. The market capitalisation at the time of writing is £101,011,510,400.

Rio Tinto plc is a United Kingdom-based mining and metals company. The Company is principally engaged in the production of materials essential to human progress. The Company’s segments include Iron Ore, Aluminium, Copper and Minerals. The Company operates an integrated portfolio of Iron Ore assets, which includes a network of 17 mines, four independent port terminals, and a rail network spanning approximately 2,000 kilometers. The Aluminium business includes bauxite mines, alumina refineries and aluminum smelters. Its bauxite mines are located in Australia, Brazil and Guinea. The Copper segment is engaged in mining and refining copper, gold, silver, molybdenum and other by-products; exploration activities together with the Simandou iron ore project. The Minerals segment includes businesses with products, such as borates, titanium dioxide feedstock together with the Iron Ore Company of Canada. Its business also includes diamond mining, sorting and marketing, and lithium exploration.

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