Rio Tinto plc’s (RIO) “Buy” Rating Reaffirmed at Jefferies Group LLC
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reiterated by analysts at Jefferies Group LLC in a note issued to investors on Wednesday. They presently have a GBX 4,200 ($55.81) price objective on the stock. Jefferies Group LLC’s price target would indicate a potential upside of 13.22% from the stock’s previous close.
A number of other equities research analysts have also recently commented on RIO. UBS AG set a GBX 3,700 ($49.16) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($39.86) target price on shares of Rio Tinto plc and gave the company a “neutral” rating in a research report on Tuesday, August 15th. J P Morgan Chase & Co set a GBX 4,000 ($53.15) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Macquarie reissued an “outperform” rating and set a GBX 4,000 ($53.15) target price on shares of Rio Tinto plc in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reissued a “top pick” rating and set a GBX 4,200 ($55.81) target price on shares of Rio Tinto plc in a research report on Wednesday, August 9th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have issued a buy rating to the company. Rio Tinto plc currently has an average rating of “Buy” and a consensus target price of GBX 3,837.25 ($50.99).
Shares of Rio Tinto plc (LON:RIO) opened at 3709.50 on Wednesday. Rio Tinto plc has a 12 month low of GBX 2,581.50 and a 12 month high of GBX 3,784.50. The company’s market cap is GBX 66.51 billion. The company’s 50 day moving average is GBX 3,597.01 and its 200 day moving average is GBX 3,338.10.
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In other news, insider W Sam H. Laidlaw purchased 7,500 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of GBX 3,420 ($45.44) per share, with a total value of £256,500 ($340,818.50).
About Rio Tinto plc
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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