Rio Tinto plc’s (LON:RIO) Buy Rating Reiterated at Jefferies Group LLC

Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reaffirmed by investment analysts at Jefferies Group LLC in a research report issued on Wednesday, October 18th. They presently have a GBX 4,200 ($55.42) target price on the stock. Jefferies Group LLC’s price target would suggest a potential upside of 17.80% from the company’s previous close.

RIO has been the topic of several other reports. Deutsche Bank AG lifted their target price on Rio Tinto plc from GBX 4,200 ($55.42) to GBX 4,300 ($56.74) and gave the company a “buy” rating in a research report on Tuesday, September 12th. UBS Group AG set a GBX 3,750 ($49.49) target price on Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, August 30th. HSBC Holdings plc reaffirmed a “buy” rating and issued a GBX 3,800 ($50.15) target price on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Barclays PLC reissued an “overweight” rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. Finally, Royal Bank Of Canada set a GBX 4,200 ($55.42) price objective on Rio Tinto plc and gave the stock a “buy” rating in a research report on Thursday, June 29th. 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 presently has an average rating of “Buy” and a consensus price target of GBX 3,867.25 ($51.03).

Shares of Rio Tinto plc (RIO) opened at 3565.50 on Wednesday. The company’s market capitalization is GBX 63.93 billion. Rio Tinto plc has a 12 month low of GBX 2,709.50 and a 12 month high of GBX 4,110.29. The firm has a 50-day moving average of GBX 3,575.70 and a 200-day moving average of GBX 3,356.83.

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In other news, insider W Sam H. Laidlaw bought 7,500 shares of the stock in a transaction on Monday, August 14th. The shares were bought at an average price of GBX 3,420 ($45.13) per share, with a total value of £256,500 ($338,479.81). Also, insider Jean-Sébastien Jacques bought 10 shares of the stock in a transaction on Tuesday, October 17th. The stock was purchased at an average cost of GBX 3,721 ($49.10) per share, for a total transaction of £372.10 ($491.03).

Rio Tinto plc Company Profile

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.

Analyst Recommendations for Rio Tinto plc (LON:RIO)

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