BNP Paribas Raises Rio Tinto (RIO) Price Target to GBX 4,000

Rio Tinto (LON:RIO) had its price target lifted by BNP Paribas from GBX 3,650 ($51.24) to GBX 4,000 ($56.15) in a research note issued to investors on Friday, MarketBeat reports. They currently have a neutral rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Goldman Sachs set a GBX 3,300 ($46.32) target price on shares of Rio Tinto and gave the company a neutral rating in a research report on Monday, February 5th. JPMorgan Chase set a GBX 4,200 ($58.96) target price on shares of Rio Tinto and gave the company a neutral rating in a research report on Wednesday, March 28th. Deutsche Bank reissued a buy rating on shares of Rio Tinto in a research report on Friday. Liberum Capital reissued a sell rating and issued a GBX 2,750 ($38.60) target price on shares of Rio Tinto in a research report on Wednesday, February 7th. Finally, Royal Bank of Canada set a GBX 4,200 ($58.96) target price on shares of Rio Tinto and gave the company a neutral rating in a research report on Wednesday, February 7th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eleven have issued a buy rating to the company. Rio Tinto has an average rating of Buy and an average target price of GBX 4,159.21 ($58.38).

Shares of Rio Tinto stock traded down GBX 85.50 ($1.20) during trading on Friday, reaching GBX 3,560 ($49.97). The company’s stock had a trading volume of 2,844,133 shares, compared to its average volume of 4,860,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($40.46) and a 52 week high of GBX 4,226.56 ($59.33).

The business also recently declared a dividend, which will be paid on Thursday, April 12th. Investors of record on Thursday, March 1st will be paid a GBX 129.43 ($1.82) dividend. This represents a yield of 3.42%. The ex-dividend date is Thursday, March 1st. This is an increase from Rio Tinto’s previous dividend of $83.13.

In related news, insider Christopher Lynch sold 9,505 shares of the business’s stock in a transaction dated Monday, February 19th. The stock was sold at an average price of GBX 4,072 ($57.16), for a total value of £387,043.60 ($543,295.34).

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Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

Analyst Recommendations for Rio Tinto (LON:RIO)

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