Rio Tinto plc (RIO) Price Target Raised to GBX 3,600
Rio Tinto plc (LON:RIO) had its price objective hoisted by Jefferies Group from GBX 3,300 ($40.94) to GBX 3,600 ($44.66) in a report released on Monday. The firm currently has a buy rating on the stock.
RIO has been the subject of several other reports. Credit Suisse Group AG raised their price target on shares of Rio Tinto plc from GBX 2,100 ($26.05) to GBX 2,300 ($28.53) and gave the company a neutral rating in a report on Monday, September 19th. JPMorgan Chase & Co. reaffirmed an overweight rating and set a GBX 3,200 ($39.70) price objective on shares of Rio Tinto plc in a report on Wednesday, October 26th. Macquarie reaffirmed an outperform rating and set a GBX 3,500 ($43.42) price objective on shares of Rio Tinto plc in a report on Friday, October 28th. Barclays PLC reaffirmed an overweight rating and set a GBX 2,600 ($32.25) price objective on shares of Rio Tinto plc in a report on Thursday, August 4th. Finally, Deutsche Bank AG reaffirmed a buy rating and set a GBX 3,230 ($40.07) price objective on shares of Rio Tinto plc in a report on Monday, August 8th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average target price of GBX 2,881.56 ($35.75).
Shares of Rio Tinto plc (LON:RIO) opened at 3012.00 on Monday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 3,217.00. The firm’s market capitalization is GBX 54.18 billion. The company has a 50-day moving average price of GBX 2,857.61 and a 200-day moving average price of GBX 2,428.37.
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In other news, insider Jean-Sébastien Jacques bought 14 shares of the company’s stock in a transaction dated Monday, October 17th. The shares were purchased at an average price of GBX 2,612 ($32.40) per share, for a total transaction of £365.68 ($453.64).
About Rio Tinto plc
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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