Rio Tinto’s (RIO) “Buy” Rating Reiterated at Citigroup

Citigroup reissued their buy rating on shares of Rio Tinto (LON:RIO) in a report released on Wednesday.

Several other equities research analysts have also recently commented on the company. Goldman Sachs set a GBX 3,300 ($46.32) price objective on Rio Tinto and gave the company a neutral rating in a research report on Monday, December 11th. Deutsche Bank increased their price objective on Rio Tinto from GBX 4,500 ($63.17) to GBX 4,600 ($64.57) and gave the company a buy rating in a research report on Monday, January 15th. Credit Suisse Group reissued an outperform rating and issued a GBX 4,300 ($60.36) target price on shares of Rio Tinto in a report on Tuesday, February 27th. Barclays increased their target price on Rio Tinto from GBX 4,300 ($60.36) to GBX 4,500 ($63.17) and gave the company an overweight rating in a report on Monday, January 8th. Finally, JPMorgan Chase set a GBX 3,750 ($52.64) target price on Rio Tinto and gave the company a neutral rating in a report on Thursday, December 14th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eleven have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus price target of GBX 4,159.21 ($58.38).

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Rio Tinto stock opened at GBX 3,560 ($49.97) on Wednesday. Rio Tinto has a one year low of GBX 2,882.50 ($40.46) and a one year high of GBX 4,226.56 ($59.33).

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

In other news, insider Christopher Lynch sold 9,505 shares of the firm’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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