Rio Tinto plc (LON:RIO) has been assigned a GBX 3,700 ($48.83) target price by investment analysts at Morgan Stanley in a report issued on Tuesday, October 17th. The firm presently has a “neutral” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 4.09% from the company’s current price.
A number of other research firms have also commented on RIO. J P Morgan Chase & Co increased their price target on Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,100 ($54.10) and gave the stock an “overweight” rating in a research report on Tuesday, September 5th. Credit Suisse Group reiterated an “outperform” rating and issued a GBX 4,000 ($52.78) price objective on shares of Rio Tinto plc in a research report on Thursday, September 7th. BNP Paribas set a GBX 4,000 ($52.78) price objective on Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, September 6th. Jefferies Group LLC increased their price objective on Rio Tinto plc from GBX 4,000 ($52.78) to GBX 4,200 ($55.42) and gave the company a “buy” rating in a research report on Thursday, August 31st. Finally, Barclays PLC reiterated an “overweight” rating and issued a GBX 4,100 ($54.10) price objective on shares of Rio Tinto plc in a research report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company’s stock. Rio Tinto plc has an average rating of “Buy” and an average target price of GBX 3,867.25 ($51.03).
Shares of Rio Tinto plc (LON RIO) opened at 3554.50 on Tuesday. The firm’s market capitalization is GBX 63.73 billion. The stock has a 50 day moving average price of GBX 3,571.74 and a 200 day moving average price of GBX 3,358.20. Rio Tinto plc has a 12-month low of GBX 2,709.50 and a 12-month high of GBX 4,110.29.
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In other news, insider W Sam H. Laidlaw purchased 7,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were purchased 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 purchased 10 shares of the company’s 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).
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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