Royal Bank of Canada set a GBX 4,200 ($58.98) price objective on Rio Tinto (LON:RIO) in a research report released on Thursday, January 11th. The firm currently has a neutral rating on the stock.
Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated an overweight rating and set a GBX 4,100 ($57.58) price target on shares of Rio Tinto in a research note on Monday, September 25th. Macquarie reaffirmed an outperform rating and set a GBX 4,500 ($63.19) price objective on shares of Rio Tinto in a research report on Thursday, September 14th. Morgan Stanley set a GBX 3,700 ($51.96) price target on Rio Tinto and gave the company a neutral rating in a report on Tuesday, October 17th. Barclays raised their price target on Rio Tinto from GBX 4,100 ($57.58) to GBX 4,500 ($63.19) and gave the company an overweight rating in a report on Tuesday, October 24th. Finally, Jefferies Group reaffirmed a buy rating and issued a GBX 4,200 ($58.98) price objective on shares of Rio Tinto in a research note on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of GBX 4,079.75 ($57.29).
Rio Tinto (LON RIO) traded down GBX 27.50 ($0.39) during trading hours on Thursday, reaching GBX 3,901.50 ($54.79). The company had a trading volume of 3,758,123 shares, compared to its average volume of 3,030,000. The stock has a market cap of $70,540.00 and a P/E ratio of 1,625.63. Rio Tinto has a 12-month low of GBX 2,882.50 ($40.48) and a 12-month high of GBX 4,226.56 ($59.35).
In other Rio Tinto news, insider Christopher Lynch purchased 26,066 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were acquired at an average price of GBX 3,490 ($49.01) per share, for a total transaction of £909,703.40 ($1,277,493.89).
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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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