Rio Tinto plc (RIO) Rating Reiterated by Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reaffirmed by Macquarie in a research report issued to clients and investors on Monday. They presently have a GBX 3,300 ($40.84) price objective on the stock. Macquarie’s target price indicates a potential upside of 26.32% from the stock’s current price.
A number of other analysts have also recently weighed in on RIO. Beaufort Securities restated a “hold” rating on shares of Rio Tinto plc in a report on Thursday, August 4th. BNP Paribas raised their price objective on shares of Rio Tinto plc from GBX 1,950 ($24.13) to GBX 2,000 ($24.75) and gave the stock 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 research note on Thursday, July 14th. Jefferies Group reaffirmed a “buy” rating and issued a GBX 2,600 ($32.18) price objective on shares of Rio Tinto plc in a research note on Thursday, August 4th. Finally, Liberum Capital reaffirmed a “sell” rating and issued a GBX 1,590 ($19.68) price objective on shares of Rio Tinto plc in a research note on Wednesday, August 3rd. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. Rio Tinto plc has an average rating of “Hold” and a consensus target price of GBX 2,625.96 ($32.50).
Shares of Rio Tinto plc (LON:RIO) opened at 2615.00 on Monday. 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’s market capitalization is GBX 47.04 billion. The company has a 50-day moving average price of GBX 2,458.92 and a 200 day moving average price of GBX 2,261.04.
The business also recently disclosed a dividend, which was paid on Thursday, September 22nd. Stockholders of record on Thursday, August 11th were issued a dividend of GBX 33.80 ($0.42) per share. The ex-dividend date was Thursday, August 11th. This represents a dividend yield of 1.39%.
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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