Royal Bank of Canada Reaffirms “Sector Performer” Rating for Rio Tinto (RIO)

Rio Tinto (LON:RIO)‘s stock had its “sector performer” rating reaffirmed by stock analysts at Royal Bank of Canada in a report issued on Tuesday. They currently have a GBX 3,900 ($51.92) price target on the stock. Royal Bank of Canada’s price objective suggests a potential downside of 5.02% from the stock’s current price.

A number of other equities research analysts have also recently commented on RIO. JPMorgan Chase & Co. reissued a “neutral” rating and issued a GBX 4,200 ($55.92) price objective on shares of Rio Tinto in a research note on Tuesday, February 27th. Credit Suisse Group reissued an “outperform” rating and issued a GBX 4,300 ($57.25) price objective on shares of Rio Tinto in a research note on Tuesday, February 27th. UBS Group set a GBX 4,000 ($53.26) price objective on Rio Tinto and gave the company a “buy” rating in a research note on Tuesday, February 27th. Goldman Sachs Group raised their price objective on Rio Tinto from GBX 3,300 ($43.94) to GBX 3,800 ($50.59) and gave the company a “neutral” rating in a research note on Wednesday, March 14th. Finally, Liberum Capital reissued a “sell” rating and issued a GBX 2,750 ($36.61) price objective on shares of Rio Tinto in a research note on Thursday, March 15th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of GBX 4,221.25 ($56.20).

Rio Tinto traded up GBX 63.50 ($0.85), reaching GBX 4,106 ($54.67), during mid-day trading on Tuesday, Marketbeat.com reports. The stock had a trading volume of 3,273,199 shares, compared to its average volume of 4,860,000. Rio Tinto has a fifty-two week low of GBX 2,882.50 ($38.38) and a fifty-two week high of GBX 4,226.56 ($56.27).

In related news, insider Jean-Sébastien Jacques sold 4,759 shares of Rio Tinto stock in a transaction on Thursday, May 31st. The stock was sold at an average price of GBX 4,247 ($56.54), for a total transaction of £202,114.73 ($269,091.64). Also, insider Simon Henry bought 500 shares of the stock in a transaction on Tuesday, April 10th. The stock was purchased at an average price of GBX 3,713 ($49.43) per share, for a total transaction of £18,565 ($24,717.08).

About Rio Tinto

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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