Barclays Increases Rio Tinto (RIO) Price Target to GBX 4,500

Rio Tinto (LON:RIO) had its price objective increased by research analysts at Barclays from GBX 4,300 ($60.38) to GBX 4,500 ($63.19) in a report issued on Monday, January 8th. The firm presently has an “overweight” rating on the stock. Barclays’ price target points to a potential upside of 15.34% from the stock’s previous close.

RIO has been the topic of a number of other reports. Deutsche Bank raised their target price on shares of Rio Tinto from GBX 4,200 ($58.98) to GBX 4,300 ($60.38) and gave the stock a “buy” rating in a report on Tuesday, September 12th. Credit Suisse Group restated an “outperform” rating and issued a GBX 4,300 ($60.38) target price on shares of Rio Tinto in a report on Wednesday, November 15th. Liberum Capital raised their target price on shares of Rio Tinto from GBX 2,450 ($34.41) to GBX 2,750 ($38.62) and gave the stock a “sell” rating in a report on Monday, November 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a GBX 4,100 ($57.58) price target on shares of Rio Tinto in a report on Tuesday, December 5th. Finally, HSBC reiterated a “buy” rating and issued a GBX 4,000 ($56.17) price target on shares of Rio Tinto in a report on Monday, December 4th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of GBX 4,079.75 ($57.29).

Shares of Rio Tinto (LON RIO) traded down GBX 27.50 ($0.39) during trading on Monday, hitting GBX 3,901.50 ($54.79). 3,758,123 shares of the stock were exchanged, compared to its average volume of 3,030,000. The stock has a market capitalization of $70,540.00 and a P/E ratio of 1,625.63. Rio Tinto has a 52-week low of GBX 2,882.50 ($40.48) and a 52-week high of GBX 4,226.56 ($59.35).

In other news, insider Christopher Lynch purchased 26,066 shares of the business’s stock in a transaction on Friday, December 1st. The stock was acquired at an average cost of GBX 3,490 ($49.01) per share, for a total transaction of £909,703.40 ($1,277,493.89).

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Rio Tinto 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 (LON:RIO)

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