Rio Tinto plc (RIO) Rating Reiterated by Jefferies Group
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reiterated by investment analysts at Jefferies Group in a research report issued to clients and investors on Tuesday. They presently have a GBX 2,800 ($36.55) price objective on the stock. Jefferies Group’s price target would suggest a potential upside of 16.13% from the stock’s previous close.
Other analysts have also issued reports about the stock. Goldman Sachs Group Inc. upgraded shares of Rio Tinto plc to a “neutral” rating and upped their price target for the company from GBX 1,330 ($17.36) to GBX 1,900 ($24.80) in a research report on Monday, June 27th. Liberum Capital restated a “sell” rating and set a GBX 1,590 ($20.75) price target on shares of Rio Tinto plc in a research report on Wednesday, August 3rd. Canaccord Genuity restated a “buy” rating and set a GBX 2,660 ($34.72) price target on shares of Rio Tinto plc in a research report on Tuesday, July 19th. Investec upped their price target on shares of Rio Tinto plc from GBX 2,497 ($32.59) to GBX 2,948 ($38.48) and gave the company a “buy” rating in a research report on Tuesday, July 19th. Finally, BNP Paribas reiterated a “neutral” rating and set a GBX 1,950 ($25.45) target price on shares of Rio Tinto plc in a report on Monday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have given a buy rating to the stock. Rio Tinto plc currently has an average rating of “Hold” and an average target price of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2480.597 on Tuesday. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 2,621.00. The firm’s market cap is GBX 44.62 billion. The firm’s 50-day moving average price is GBX 2,393.38 and its 200-day moving average price is GBX 2,195.61.
The firm also recently declared a dividend, which will be paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th will be paid a dividend of GBX 33.80 ($0.44) per share. This represents a dividend yield of 1.39%. The ex-dividend date of this dividend is Thursday, August 11th.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien purchased 15 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were acquired 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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