Rio Tinto plc’s (RIO) “Neutral” Rating Reiterated at BNP Paribas
Rio Tinto plc (LON:RIO)‘s stock had its “neutral” rating reissued by investment analysts at BNP Paribas in a research report issued on Thursday. They presently have a GBX 2,000 ($26.11) price objective on the stock. BNP Paribas’ price objective points to a potential downside of 24.26% from the stock’s previous close.
RIO has been the subject of a number of other research reports. Credit Suisse Group AG raised their price objective on Rio Tinto plc from GBX 2,100 ($27.41) to GBX 2,300 ($30.02) and gave the company a “neutral” rating in a research note on Monday, September 19th. Jefferies Group restated a “buy” rating on shares of Rio Tinto plc in a research note on Friday, July 15th. Barclays PLC restated an “overweight” rating and set a GBX 2,600 ($33.94) price objective on shares of Rio Tinto plc in a research note on Thursday, August 4th. JPMorgan Chase & Co. set a GBX 3,000 ($39.16) price objective on Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, July 14th. Finally, Societe Generale set a GBX 2,500 ($32.63) price objective on Rio Tinto plc and gave the company a “neutral” rating in a research note on Wednesday, July 20th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 2,596.31 ($33.89).
Shares of Rio Tinto plc (LON:RIO) opened at 2631.25 on Thursday. The stock’s market cap is GBX 47.33 billion. The stock’s 50 day moving average price is GBX 2,416.26 and its 200 day moving average price is GBX 2,231.98. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 2,685.50.
The business also recently declared a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were issued a GBX 33.80 ($0.44) dividend. This represents a dividend yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 11th.
In related news, insider Jacques,Jean-Sébastien purchased 15 shares of the business’s stock in a transaction that occurred on 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).
Rio Tinto plc Company Profile
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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