Rio Tinto plc’s (RIO) Buy Rating Reiterated at HSBC Holdings plc
Several other equities analysts also recently weighed in on RIO. UBS AG set a GBX 3,700 ($47.85) target price on 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 ($38.80) target price on 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 ($51.73) target price on Rio Tinto plc and gave the company a buy rating in a research report on Wednesday, August 2nd. Macquarie restated an outperform rating and issued a GBX 4,000 ($51.73) target price on shares of Rio Tinto plc in a research report on Wednesday, August 2nd. Finally, Royal Bank Of Canada reiterated a top pick rating and set a GBX 4,200 ($54.32) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Rio Tinto plc presently has an average rating of Buy and a consensus target price of GBX 3,773.75 ($48.81).
Rio Tinto plc (LON:RIO) opened at 3759.50 on Wednesday. The stock’s market capitalization is GBX 67.40 billion. The company has a 50-day moving average price of GBX 3,511.57 and a 200-day moving average price of GBX 3,298.15. Rio Tinto plc has a 12-month low of GBX 2,253.50 and a 12-month high of GBX 3,784.50.
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The company also recently disclosed a dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th will be paid a GBX 83.13 ($1.08) dividend. The ex-dividend date of this dividend is Thursday, August 10th. This represents a dividend yield of 2.31%.
In related news, insider Jean-Sébastien Jacques bought 11 shares of the stock in a transaction that occurred on Monday, July 17th. The stock was purchased at an average cost of GBX 3,501 ($45.28) per share, with a total value of £385.11 ($498.07). Also, insider W Sam H. Laidlaw bought 7,500 shares of the stock in a transaction that occurred on Monday, August 14th. The shares were bought at an average cost of GBX 3,420 ($44.23) per share, with a total value of £256,500 ($331,738.23).
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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