Rio Tinto (LON:RIO) had its target price upped by JPMorgan Chase & Co. from GBX 3,750 ($50.85) to GBX 3,850 ($52.21) in a report issued on Thursday. JPMorgan Chase & Co. currently has a neutral rating on the stock.
A number of other research firms have also recently issued reports on RIO. Morgan Stanley set a GBX 3,700 ($50.18) price target on shares of Rio Tinto and gave the company a neutral rating in a research note on Wednesday, November 29th. Jefferies Group reissued a buy rating and issued a GBX 4,200 ($56.96) price target on shares of Rio Tinto in a research note on Tuesday, December 5th. Deutsche Bank reissued a buy rating and issued a GBX 4,500 ($61.03) price target on shares of Rio Tinto in a research note on Tuesday, December 5th. Macquarie reissued an outperform rating and issued a GBX 4,300 ($58.31) price target on shares of Rio Tinto in a research note on Tuesday, October 10th. Finally, Barclays lifted their price target on shares of Rio Tinto from GBX 4,100 ($55.60) to GBX 4,500 ($61.03) and gave the company an overweight rating in a research note on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. Rio Tinto has an average rating of Buy and an average target price of GBX 4,029.75 ($54.65).
Rio Tinto (RIO) traded up GBX 4.50 ($0.06) during trading on Thursday, reaching GBX 4,170 ($56.55). 5,050,605 shares of the company were exchanged, compared to its average volume of 3,280,000. Rio Tinto has a 1 year low of GBX 2,882.50 ($39.09) and a 1 year high of GBX 4,226.56 ($57.32). The firm has a market cap of $73,950.00 and a PE ratio of 1,668.00.
In related news, insider Jean-Sébastien Jacques purchased 10 shares of Rio Tinto stock in a transaction dated Tuesday, October 17th. The shares were acquired at an average price of GBX 3,721 ($50.46) per share, for a total transaction of £372.10 ($504.61). Also, insider Christopher Lynch purchased 26,066 shares of Rio Tinto stock in a transaction dated Friday, December 1st. The shares were bought at an average price of GBX 3,490 ($47.33) per share, for a total transaction of £909,703.40 ($1,233,663.41).
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About Rio Tinto
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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