Rio Tinto plc (RIO) Receives Consensus Rating of “Buy” from Brokerages
Rio Tinto plc (LON:RIO) has been assigned a consensus recommendation of “Buy” from the twenty ratings firms that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, six have given a hold recommendation and thirteen have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is GBX 4,019.17 ($54.50).
A number of research firms recently commented on RIO. JPMorgan Chase & Co. boosted their target price on Rio Tinto from GBX 3,750 ($50.85) to GBX 3,850 ($52.21) and gave the stock a “neutral” rating in a research report on Thursday. Morgan Stanley set a GBX 4,100 ($55.60) target price on Rio Tinto and gave the stock a “neutral” rating in a research report on Thursday. UBS Group set a GBX 4,000 ($54.24) target price on Rio Tinto and gave the stock a “buy” rating in a research report on Wednesday. Royal Bank of Canada set a GBX 4,200 ($56.96) target price on Rio Tinto and gave the stock a “neutral” rating in a research report on Thursday. Finally, S&P Global set a GBX 3,800 ($51.53) target price on Rio Tinto and gave the stock a “neutral” rating in a research report on Wednesday, October 18th.
In other news, insider Christopher Lynch acquired 26,066 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The shares were bought at an average price of GBX 3,490 ($47.33) per share, with a total value of £909,703.40 ($1,233,663.41). Also, insider Jean-Sébastien Jacques acquired 10 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The stock was purchased at an average cost of GBX 3,721 ($50.46) per share, for a total transaction of £372.10 ($504.61).
Rio Tinto (RIO) traded up GBX 4.50 ($0.06) during trading hours on Friday, hitting GBX 4,170 ($56.55). The company had a trading volume of 3,926,465 shares, compared to its average volume of 3,310,000. The stock has a market capitalization of $74,450.00 and a P/E ratio of 1,648.22. Rio Tinto has a 12 month low of GBX 2,882.50 ($39.09) and a 12 month high of GBX 4,226.56 ($57.32).
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Rio Tinto 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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