Rio Tinto plc (RIO) PT Raised to GBX 4,140 at Deutsche Bank AG
Rio Tinto plc (LON:RIO) had its price objective increased by research analysts at Deutsche Bank AG from GBX 4,100 ($50.64) to GBX 4,140 ($51.13) in a research note issued on Friday. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s price target would indicate a potential upside of 19.31% from the stock’s current price.
Other research analysts also recently issued research reports about the stock. Jefferies Group LLC reiterated a “buy” rating and issued a GBX 3,600 ($44.46) price objective on shares of Rio Tinto plc in a research report on Wednesday, December 7th. HSBC Holdings plc reissued a “buy” rating and set a GBX 3,300 ($40.76) target price on shares of Rio Tinto plc in a research note on Friday, November 25th. Royal Bank of Canada set a GBX 3,800 ($46.93) target price on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Monday, December 12th. Finally, Macquarie set a GBX 4,400 ($54.34) target price on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Thursday, February 9th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 3,445.90 ($42.56).
Shares of Rio Tinto plc (LON:RIO) opened at 3470.00 on Friday. The firm has a 50-day moving average of GBX 3,436.29 and a 200 day moving average of GBX 3,036.65. Rio Tinto plc has a 52 week low of GBX 1,845.00 and a 52 week high of GBX 3,718.50. The company’s market cap is GBX 62.43 billion.
The company also recently announced a dividend, which will be paid on Thursday, April 6th. Shareholders of record on Thursday, February 23rd will be issued a GBX 100.56 ($1.24) dividend. This represents a yield of 2.98%. This is a positive change from Rio Tinto plc’s previous dividend of $33.80. The ex-dividend date is Thursday, February 23rd.
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In other Rio Tinto plc news, insider Jean-Sébastien Jacques sold 3,325 shares of the business’s stock in a transaction dated Monday, February 20th. The shares were sold at an average price of GBX 3,618 ($44.68), for a total value of £120,298.50 ($148,571.69).
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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