Rio Tinto (RIO) Stock Rating Reaffirmed by Citigroup
RIO has been the subject of a number of other research reports. Goldman Sachs Group set a GBX 3,000 ($40.68) price objective on Rio Tinto and gave the company a neutral rating in a research note on Wednesday, October 18th. Credit Suisse Group upped their price objective on Rio Tinto from GBX 4,000 ($54.24) to GBX 4,300 ($58.31) and gave the company an outperform rating in a research note on Thursday, October 26th. upped their price objective on Rio Tinto from GBX 3,900 ($52.89) to GBX 4,000 ($54.24) and gave the company a buy rating in a research note on Wednesday, October 18th. Deutsche Bank restated a buy rating and issued a GBX 4,300 ($58.31) price objective on shares of Rio Tinto in a research note on Thursday, October 5th. Finally, Macquarie restated an outperform rating and issued a GBX 4,300 ($58.31) price objective on shares of Rio Tinto in a research note on Friday, September 22nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have issued a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of GBX 4,029.75 ($54.65).
Rio Tinto (LON RIO) opened at GBX 4,170 ($56.55) on Wednesday. The stock has a market capitalization of $74,450.00 and a price-to-earnings 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).
In other Rio Tinto news, insider Christopher Lynch bought 26,066 shares of the firm’s stock in a transaction on Friday, December 1st. The shares were acquired at an average cost of GBX 3,490 ($47.33) per share, for a total transaction of £909,703.40 ($1,233,663.41). Also, insider Jean-Sébastien Jacques bought 10 shares of the firm’s stock in a transaction on Tuesday, October 17th. The stock was acquired at an average price of GBX 3,721 ($50.46) per share, for a total transaction of £372.10 ($504.61).
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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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