J P Morgan Chase & Co set a GBX 4,100 ($54.10) target price on Rio Tinto plc (LON:RIO) in a research report report published on Wednesday, October 18th. The brokerage currently has a buy rating on the stock.
Several other research analysts have also commented on the stock. Goldman Sachs Group, Inc. (The) restated a neutral rating and issued a GBX 2,900 ($38.27) price objective on shares of Rio Tinto plc in a report on Friday, July 14th. Macquarie restated an outperform rating and issued a GBX 4,500 ($59.38) price objective on shares of Rio Tinto plc in a 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. Jefferies Group LLC upped their target price on shares of Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,200 ($55.42) and gave the stock a buy rating in a research report on Thursday, August 31st. Finally, Deutsche Bank AG upped their target price on shares of Rio Tinto plc from GBX 4,300 ($56.74) to GBX 4,500 ($59.38) and gave the stock a buy rating in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company’s stock. 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 (LON RIO) traded down 0.31% during trading on Wednesday, hitting GBX 3554.50. 4,860,486 shares of the stock traded hands. Rio Tinto plc has a 1-year low of GBX 2,709.50 and a 1-year high of GBX 4,110.29. The firm has a 50-day moving average of GBX 3,571.74 and a 200-day moving average of GBX 3,358.20. The firm’s market capitalization is GBX 63.73 billion.
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In other news, insider Jean-Sébastien Jacques acquired 10 shares of the company’s stock in a transaction on Tuesday, October 17th. The stock was bought at an average cost of GBX 3,721 ($49.10) per share, with a total value of £372.10 ($491.03). Also, insider W Sam H. Laidlaw bought 7,500 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were acquired at an average price of GBX 3,420 ($45.13) per share, with a total value of £256,500 ($338,479.81).
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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