Rio Tinto plc (RIO) Price Target Increased to GBX 3,245 by Analysts at Deutsche Bank AG
Rio Tinto plc (LON:RIO) had its price target lifted by stock analysts at Deutsche Bank AG from GBX 3,230 ($42.16) to GBX 3,245 ($42.36) in a report released on Wednesday. The firm presently has a “buy” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 23.90% from the company’s current price.
Other equities research analysts have also issued reports about the stock. Royal Bank Of Canada reiterated an “outperform” rating and set a GBX 3,400 ($44.38) price target on shares of Rio Tinto plc in a report on Tuesday. Goldman Sachs Group Inc. upgraded shares of Rio Tinto plc to a “neutral” rating and upped their price target for the company from GBX 1,330 ($17.36) to GBX 1,900 ($24.80) in a report on Monday, June 27th. Liberum Capital reiterated a “sell” rating and set a GBX 1,590 ($20.75) price target on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Canaccord Genuity reiterated a “buy” rating and set a GBX 2,660 ($34.72) price target on shares of Rio Tinto plc in a report on Tuesday, July 19th. Finally, Investec upped their price target on shares of Rio Tinto plc from GBX 2,497 ($32.59) to GBX 2,948 ($38.48) and gave the company a “buy” rating in a report on Tuesday, July 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 2,596.31 ($33.89).
Shares of Rio Tinto plc (LON:RIO) opened at 2619.00 on Wednesday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,685.50. The firm’s market capitalization is GBX 47.11 billion. The firm has a 50-day moving average of GBX 2,410.57 and a 200-day moving average of GBX 2,227.55.
The business also recently disclosed 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 related news, insider Jacques,Jean-Sébastien acquired 15 shares of Rio Tinto plc stock in a transaction dated Monday, July 18th. The shares were purchased at an average price of GBX 2,433 ($31.76) per share, for a total transaction 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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