Rio Tinto plc (LON:RIO) dropped 2.6% on Wednesday . The stock traded as low as GBX 3,482 ($45.95) and last traded at GBX 3,496.50 ($46.14). Approximately 3,876,479 shares were traded during mid-day trading, a decline of 9% from the average daily volume of 4,266,760 shares. The stock had previously closed at GBX 3,590 ($47.37).
RIO has been the subject of several recent analyst reports. Deutsche Bank AG raised their price target on Rio Tinto plc from GBX 4,200 ($55.42) to GBX 4,300 ($56.74) and gave the stock a “buy” rating in a report on Tuesday, September 12th. UBS AG set a GBX 3,750 ($49.49) price target on Rio Tinto plc and gave the stock a “buy” rating in a report on Wednesday, August 30th. HSBC Holdings plc reissued a “buy” rating and issued a GBX 3,800 ($50.15) price target on shares of Rio Tinto plc in a report on Wednesday, August 30th. Barclays PLC reissued an “overweight” rating on shares of Rio Tinto plc in a report on Tuesday, July 4th. Finally, Jefferies Group LLC raised their price target on Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,200 ($55.42) and gave the stock a “buy” rating in a report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company. Rio Tinto plc has an average rating of “Buy” and a consensus price target of GBX 3,867.25 ($51.03).
The company’s 50 day moving average is GBX 3,575.70 and its 200 day moving average is GBX 3,356.83. The firm’s market cap is GBX 62.93 billion.
In other news, insider W Sam H. Laidlaw acquired 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average cost of GBX 3,420 ($45.13) per share, with a total value of £256,500 ($338,479.81). 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 ($49.10) per share, with a total value of £372.10 ($491.03).
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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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