Jefferies Group Increases Rio Tinto plc (RIO) Price Target to GBX 3,300
Rio Tinto plc (LON:RIO) had its price target raised by Jefferies Group from GBX 3,100 ($38.40) to GBX 3,300 ($40.88) in a research note issued on Thursday. The firm presently has a “buy” rating on the stock. Jefferies Group’s price objective points to a potential upside of 7.53% from the stock’s current price.
Several other equities research analysts also recently commented on the stock. Barclays PLC reiterated an “overweight” rating on shares of Rio Tinto plc in a research report on Thursday. Credit Suisse Group AG reiterated a “neutral” rating and set a GBX 2,750 ($34.06) target price on shares of Rio Tinto plc in a research report on Tuesday, November 8th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a GBX 3,200 ($39.64) target price on shares of Rio Tinto plc in a research report on Monday, November 7th. Macquarie reiterated an “outperform” rating and set a GBX 3,500 ($43.35) target price on shares of Rio Tinto plc in a research report on Friday, October 28th. Finally, Deutsche Bank AG reiterated a “buy” rating and set a GBX 3,245 ($40.20) target price on shares of Rio Tinto plc in a research report on Wednesday, October 26th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of GBX 2,730.36 ($33.82).
Rio Tinto plc (LON:RIO) opened at 3130.50 on Thursday. The company’s 50-day moving average is GBX 2,706.93 and its 200 day moving average is GBX 2,357.61. The firm’s market cap is GBX 56.31 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 3,217.00.
In related news, insider Jean-Sébastien Jacques purchased 14 shares of the business’s stock in a transaction that occurred on Monday, October 17th. The shares were bought at an average cost of GBX 2,612 ($32.35) per share, with a total value of £365.68 ($452.97).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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