Rio Tinto plc (LON:RIO) had its price target upped by stock analysts at Barclays PLC from GBX 4,100 ($53.93) to GBX 4,500 ($59.19) in a research report issued on Tuesday, October 24th. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s target price suggests a potential upside of 21.59% from the stock’s current price.
RIO has been the topic of several other reports. Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($39.46) price objective on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Wednesday, October 18th. HSBC Holdings plc boosted their target price on shares of Rio Tinto plc from GBX 3,900 ($51.30) to GBX 4,000 ($52.61) and gave the company a “buy” rating in a research note on Wednesday, October 18th. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 4,300 ($56.56) target price on shares of Rio Tinto plc in a research note on Thursday, October 5th. J P Morgan Chase & Co set a GBX 3,950 ($51.95) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, July 13th. Finally, Jefferies Group LLC boosted their target price on shares of Rio Tinto plc from GBX 4,000 ($52.61) to GBX 4,200 ($55.24) and gave the company a “buy” rating in a research note on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of GBX 3,907.25 ($51.39).
Rio Tinto plc (LON:RIO) traded up GBX 23 ($0.30) during mid-day trading on Tuesday, hitting GBX 3,701 ($48.68). Rio Tinto plc has a fifty-two week low of GBX 2,882.50 ($37.91) and a fifty-two week high of GBX 3,831.50 ($50.39).
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In related news, insider Jean-Sébastien Jacques bought 10 shares of the stock in a transaction on Tuesday, October 17th. The stock was bought at an average price of GBX 3,721 ($48.94) per share, with a total value of £372.10 ($489.41). Also, 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 cost of GBX 3,420 ($44.98) per share, with a total value of £256,500 ($337,366.83).
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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