Rio Tinto (LON:RIO) had its price target upped by equities researchers at Morgan Stanley from GBX 3,430 ($45.67) to GBX 4,100 ($54.59) in a research report issued to clients and investors on Friday. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 4.15% from the company’s current price.
Several other research analysts have also issued reports on RIO. Royal Bank of Canada reiterated a “sector performer” rating and issued a GBX 3,900 ($51.92) target price on shares of Rio Tinto in a research report on Tuesday. Deutsche Bank reiterated a “hold” rating and issued a GBX 4,700 ($62.57) target price on shares of Rio Tinto in a research report on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a GBX 5,000 ($66.57) target price on shares of Rio Tinto in a research report on Tuesday, June 19th. UBS Group set a GBX 4,000 ($53.26) target price on shares of Rio Tinto and gave the stock a “buy” rating in a research report on Thursday, April 19th. Finally, Citigroup reiterated a “buy” rating on shares of Rio Tinto in a research report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of GBX 4,266.25 ($56.80).
Shares of Rio Tinto opened at GBX 4,277.50 ($56.95) on Friday, MarketBeat reports. Rio Tinto has a 52-week low of GBX 2,882.50 ($38.38) and a 52-week high of GBX 4,226.56 ($56.27).
In other news, insider Jean-Sébastien Jacques sold 4,759 shares of the company’s stock in a transaction dated Thursday, May 31st. The shares were 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 acquired 500 shares of the stock in a transaction dated Tuesday, April 10th. The shares were purchased at an average cost of GBX 3,713 ($49.43) per share, with a total value 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.
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