Rio Tinto (RIO) Given Buy Rating at Deutsche Bank
RIO has been the topic of a number of other research reports. Goldman Sachs Group set a GBX 3,000 ($40.38) target price on shares of Rio Tinto and gave the company a neutral rating in a research report on Wednesday, October 18th. Credit Suisse Group boosted their target price on shares of Rio Tinto from GBX 4,000 ($53.84) to GBX 4,300 ($57.87) and gave the company an outperform rating in a research report on Thursday, October 26th. boosted their target price on shares of Rio Tinto from GBX 3,900 ($52.49) to GBX 4,000 ($53.84) and gave the company a buy rating in a research report on Wednesday, October 18th. Jefferies Group upped their price objective on shares of Rio Tinto from GBX 4,000 ($53.84) to GBX 4,200 ($56.53) and gave the stock a buy rating in a report on Thursday, August 31st. Finally, Macquarie restated an outperform rating and set a GBX 4,300 ($57.87) price objective on shares of Rio Tinto in a report on Friday, September 22nd. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of GBX 3,987.25 ($53.66).
Rio Tinto (LON RIO) opened at GBX 3,457.44 ($46.53) on Tuesday. Rio Tinto has a 1 year low of GBX 2,882.50 ($38.80) and a 1 year high of GBX 4,226.56 ($56.89).
In other news, insider Christopher Lynch bought 26,066 shares of Rio Tinto stock in a transaction dated Friday, December 1st. The stock was purchased at an average price of GBX 3,490 ($46.97) per share, for a total transaction of £909,703.40 ($1,224,365.28). Also, insider Jean-Sébastien Jacques purchased 10 shares of Rio Tinto stock in a transaction that occurred on Tuesday, October 17th. The shares were bought at an average price of GBX 3,721 ($50.08) per share, with a total value of £372.10 ($500.81).
About Rio Tinto
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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