Rio Tinto plc (RIO) Cut to Outperform at Royal Bank Of Canada
Rio Tinto plc (LON:RIO) was downgraded by equities researchers at Royal Bank Of Canada to an “outperform” rating in a report issued on Tuesday. They currently have a GBX 4,200 ($54.52) price target on the stock. Royal Bank Of Canada’s target price indicates a potential upside of 23.06% from the company’s current price.
Other research analysts have also issued reports about the stock. S&P Global set a GBX 3,400 ($44.14) price target on shares of Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, April 20th. HSBC Holdings plc reaffirmed a “buy” rating and issued a GBX 4,000 ($51.93) price target on shares of Rio Tinto plc in a research note on Wednesday, April 19th. UBS AG set a GBX 3,750 ($48.68) price target on shares of Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, April 20th. Jefferies Group LLC reaffirmed a “buy” rating and issued a GBX 3,800 ($49.33) price target on shares of Rio Tinto plc in a research note on Tuesday, April 18th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 4,140 ($53.75) price target on shares of Rio Tinto plc in a research note on Friday, April 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of GBX 3,738.75 ($48.54).
Shares of Rio Tinto plc (RIO) opened at 3384.50 on Tuesday. The company’s market capitalization is GBX 60.68 billion. Rio Tinto plc has a one year low of GBX 2,253.50 and a one year high of GBX 3,718.50. The stock has a 50 day moving average price of GBX 3,410.75 and a 200 day moving average price of GBX 3,286.30.
In other news, insider Jean-Sébastien Jacques acquired 11 shares of the firm’s stock in a transaction dated Monday, July 17th. The stock was acquired at an average cost of GBX 3,501 ($45.45) per share, with a total value of £385.11 ($499.95). Also, insider Christopher Lynch sold 7,582 shares of Rio Tinto plc stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of GBX 3,108 ($40.35), for a total transaction of £235,648.56 ($305,917.90).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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