Rio Tinto plc (RIO) Rating Reiterated by Royal Bank Of Canada
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reissued by Royal Bank Of Canada in a note issued to investors on Tuesday. They currently have a GBX 3,400 ($44.38) target price on the stock. Royal Bank Of Canada’s target price would indicate a potential upside of 30.44% from the stock’s previous close.
Several other brokerages have also commented on RIO. Citigroup Inc. set a GBX 2,600 ($33.94) price objective on Rio Tinto plc and gave the company a “neutral” rating in a research report on Friday. Macquarie reissued an “outperform” rating and set a GBX 2,900 ($37.85) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 10th. Jefferies Group reissued a “buy” rating on shares of Rio Tinto plc in a research report on Friday, July 15th. JPMorgan Chase & Co. lifted their price target on Rio Tinto plc from GBX 3,000 ($39.16) to GBX 3,050 ($39.81) and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 3,160 ($41.25) price target on shares of Rio Tinto plc in a research report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of GBX 2,595.73 ($33.88).
Shares of Rio Tinto plc (LON:RIO) opened at 2606.50 on Tuesday. The company’s 50 day moving average is GBX 2,406.36 and its 200 day moving average is GBX 2,225.12. The company’s market capitalization is GBX 46.89 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,635.00.
The company also recently declared a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th were given a dividend of GBX 33.80 ($0.44) per share. This represents a dividend yield of 1.39%. The ex-dividend date was Thursday, August 11th.
In other news, insider Jacques,Jean-Sébastien purchased 15 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were acquired at an average price of GBX 2,433 ($31.76) per share, with a total value of £364.95 ($476.37).
About Rio Tinto plc
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
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