Rio Tinto plc (LON:RIO) was downgraded by stock analysts at Citigroup Inc. to a “sell” rating in a report issued on Thursday. They currently have a GBX 2,450 ($30.32) price objective on the stock, down from their prior price objective of GBX 2,600 ($32.18). Citigroup Inc.’s target price points to a potential downside of 9.51% from the company’s previous close.

Several other analysts have also recently weighed in on RIO. Macquarie reissued an “outperform” rating and issued a GBX 2,900 ($35.89) price target on shares of Rio Tinto plc in a research note on Thursday, August 4th. Beaufort Securities reissued a “hold” rating on shares of Rio Tinto plc in a research note on Thursday, August 4th. BNP Paribas increased their price target on shares of Rio Tinto plc from GBX 1,950 ($24.13) to GBX 2,000 ($24.75) and gave the company a “neutral” rating in a research note on Thursday, August 4th. JPMorgan Chase & Co. set a GBX 3,000 ($37.13) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a report on Thursday, July 14th. Finally, Jefferies Group restated a “buy” rating and issued a GBX 2,600 ($32.18) price objective on shares of Rio Tinto plc in a report on Thursday, August 4th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of GBX 2,600.16 ($32.18).

Analyst Recommendations for Rio Tinto plc (LON:RIO)

Rio Tinto plc (LON:RIO) opened at 2707.50 on Thursday. The stock’s market capitalization is GBX 48.70 billion. The firm has a 50-day moving average of GBX 2,449.46 and a 200 day moving average of GBX 2,255.01. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,800.00.

The firm also recently announced a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th were given a dividend of GBX 33.80 ($0.42) per share. This represents a yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 11th.

In other Rio Tinto plc news, insider Jacques,Jean-S√©bastien bought 15 shares of the business’s stock in a transaction on Monday, July 18th. The stock was bought at an average price of GBX 2,433 ($30.11) per share, for a total transaction of ¬£364.95 ($451.67).

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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