Rio Tinto plc (RIO) PT Raised to GBX 2,790
Rio Tinto plc (LON:RIO) had its price objective hoisted by analysts at Haitong Bank from GBX 2,783 ($36.33) to GBX 2,790 ($36.42) in a research note issued on Monday. The brokerage currently has a “buy” rating on the stock. Haitong Bank’s target price would suggest a potential upside of 18.22% from the company’s previous close.
A number of other research analysts have also issued reports on RIO. Deutsche Bank AG reiterated a “buy” rating and set a GBX 3,000 ($39.16) price target on shares of Rio Tinto plc in a research report on Monday, May 23rd. Macquarie reiterated an “outperform” rating and set a GBX 2,400 ($31.33) price target on shares of Rio Tinto plc in a research report on Monday, May 23rd. Jefferies Group reiterated a “buy” rating and set a GBX 2,300 ($30.02) price target on shares of Rio Tinto plc in a research report on Wednesday, May 25th. Barclays PLC boosted their price target on Rio Tinto plc from GBX 2,300 ($30.02) to GBX 2,600 ($33.94) and gave the stock an “overweight” rating in a research report on Wednesday, May 25th. Finally, Credit Suisse Group AG reiterated a “neutral” rating on shares of Rio Tinto plc in a research report on Friday, May 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2410.50 on Monday. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 2,621.00. The stock’s 50 day moving average is GBX 2,395.41 and its 200 day moving average is GBX 2,193.63. The firm’s market cap is GBX 43.36 billion.
The firm also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, August 11th will be paid a dividend of GBX 33.80 ($0.44) per share. The ex-dividend date is Thursday, August 11th. This represents a yield of 1.39%.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien bought 15 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The stock was purchased at an average price of GBX 2,433 ($31.76) per share, for a total transaction of £364.95 ($476.37).
Rio Tinto plc Company Profile
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
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