Rio Tinto plc (RIO) Price Target Cut to GBX 1,485
Rio Tinto plc (LON:RIO) had its target price dropped by equities researchers at Liberum Capital from GBX 1,590 ($19.68) to GBX 1,485 ($18.38) in a note issued to investors on Thursday. The firm presently has a “sell” rating on the stock. Liberum Capital’s price target would suggest a potential downside of 45.15% from the company’s previous close.
Several other equities research analysts have also recently weighed in on the company. Canaccord Genuity increased their target price on Rio Tinto plc from GBX 2,660 ($32.92) to GBX 2,800 ($34.65) and gave the company a “buy” rating in a report on Wednesday, July 27th. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 3,230 ($39.98) price objective on shares of Rio Tinto plc in a report on Monday, August 8th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,400 ($42.08) price objective on shares of Rio Tinto plc in a report on Tuesday, October 4th. Jefferies Group reiterated a “buy” rating on shares of Rio Tinto plc in a report on Friday, July 15th. Finally, Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a GBX 1,925 ($23.82) price objective on shares of Rio Tinto plc in a report on Tuesday, July 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. Rio Tinto plc has an average rating of “Hold” and a consensus target price of GBX 2,595.96 ($32.13).
Shares of Rio Tinto plc (LON:RIO) opened at 2579.50 on Thursday. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,800.00. The firm has a 50-day moving average price of GBX 2,449.46 and a 200-day moving average price of GBX 2,255.01. The company’s market capitalization is GBX 46.40 billion.
The company also recently announced a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th were issued a GBX 33.80 ($0.42) dividend. The ex-dividend date of this dividend was Thursday, August 11th. This represents a dividend yield of 1.39%.
In other news, insider Jacques,Jean-Sébastien bought 15 shares of Rio Tinto plc stock in a transaction dated Monday, July 18th. The shares were purchased at an average cost of GBX 2,433 ($30.11) per share, with a total value 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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