Rio Tinto plc (RIO) Receives Average Recommendation of “Hold” from Brokerages
Shares of Rio Tinto plc (LON:RIO) have received an average rating of “Hold” from the nineteen analysts that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, nine have given a hold recommendation and nine have issued a buy recommendation on the company. The average 12-month target price among brokers that have covered the stock in the last year is GBX 4,316.43 ($56.23).
Several brokerages recently weighed in on RIO. Royal Bank of Canada restated a “sector performer” rating and set a GBX 3,900 ($50.80) target price on shares of Rio Tinto in a report on Tuesday, June 26th. Deutsche Bank restated a “hold” rating and set a GBX 4,700 ($61.22) target price on shares of Rio Tinto in a report on Tuesday, June 26th. JPMorgan Chase & Co. set a GBX 4,850 ($63.18) target price on Rio Tinto and gave the company a “buy” rating in a report on Thursday, September 20th. UBS Group restated a “buy” rating and set a GBX 4,700 ($61.22) target price on shares of Rio Tinto in a report on Thursday, August 2nd. Finally, Goldman Sachs Group set a GBX 3,800 ($49.50) target price on Rio Tinto and gave the company a “neutral” rating in a report on Monday, June 18th.
In other Rio Tinto news, insider Jean-Sébastien Jacques sold 7 shares of the stock in a transaction that occurred on Thursday, July 19th. The stock was sold at an average price of GBX 4,078 ($53.12), for a total value of £285.46 ($371.84).
The firm also recently disclosed a dividend, which was paid on Thursday, September 20th. Shareholders of record on Thursday, August 9th were issued a GBX 96.82 ($1.26) dividend. This represents a yield of 2.41%. The ex-dividend date of this dividend was Thursday, August 9th.
Rio Tinto Company Profile
Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.
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