JPMorgan Chase & Co. Reiterates “GBX 5,000” Price Target for Rio Tinto (RIO)

JPMorgan Chase & Co. set a GBX 5,000 ($65.33) price objective on Rio Tinto (LON:RIO) in a report released on Monday. The brokerage currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Societe Generale lowered Rio Tinto from a buy rating to a hold rating and dropped their price objective for the company from GBX 4,050 ($52.92) to GBX 3,830 ($50.05) in a research note on Thursday, October 25th. Credit Suisse Group restated an outperform rating on shares of Rio Tinto in a research note on Thursday, November 15th. UBS Group set a GBX 4,600 ($60.11) price objective on Rio Tinto and gave the company a buy rating in a research note on Thursday, October 18th. Liberum Capital upgraded Rio Tinto to a hold rating and upped their price objective for the company from GBX 2,750 ($35.93) to GBX 3,600 ($47.04) in a research note on Wednesday, August 22nd. Finally, Citigroup restated a buy rating on shares of Rio Tinto in a research note on Friday, September 21st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of GBX 4,208.75 ($54.99).

LON:RIO opened at GBX 3,500.50 ($45.74) on Monday. Rio Tinto has a 1 year low of GBX 2,882.50 ($37.66) and a 1 year high of GBX 4,226.56 ($55.23).

In related news, insider Jean-Sébastien Jacques sold 7 shares of the firm’s stock in a transaction on Tuesday, October 23rd. The stock was sold at an average price of GBX 3,632 ($47.46), for a total transaction of £254.24 ($332.21). Also, insider Jakob Stausholm sold 15,000 shares of the firm’s stock in a transaction on Thursday, November 29th. The stock was sold at an average price of GBX 3,664 ($47.88), for a total value of £549,600 ($718,149.75). Insiders sold a total of 26,258 shares of company stock valued at $97,187,925 over the last quarter.

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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Analyst Recommendations for Rio Tinto (LON:RIO)

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