Macquarie Increases Rio Tinto plc (RIO) Price Target to GBX 3,700
Rio Tinto plc (LON:RIO) had its price objective hoisted by investment analysts at Macquarie from GBX 3,500 ($43.73) to GBX 3,700 ($46.23) in a research note issued to investors on Monday. The brokerage currently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 23.17% from the stock’s previous close.
Several other research analysts have also commented on RIO. Deutsche Bank AG reaffirmed a “buy” rating and set a GBX 3,160 ($39.48) price target (down previously from GBX 3,175 ($39.67)) on shares of Rio Tinto plc in a research report on Sunday, July 17th. Credit Suisse Group AG lifted their price target on Rio Tinto plc from GBX 2,100 ($26.24) to GBX 2,300 ($28.74) and gave the stock a “neutral” rating in a research report on Monday, July 18th. Investec lifted their price target on Rio Tinto plc from GBX 2,497 ($31.20) to GBX 2,948 ($36.83) and gave the stock a “buy” rating in a research report on Tuesday, July 19th. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 2,660 ($33.23) price target on shares of Rio Tinto plc in a research report on Tuesday, July 19th. Finally, Barclays PLC reaffirmed an “overweight” rating and set a GBX 2,600 ($32.48) price target on shares of Rio Tinto plc in a research report on Wednesday, July 20th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of GBX 2,730.56 ($34.11).
Rio Tinto plc (LON:RIO) opened at 3004.00 on Monday. The stock’s market cap is GBX 54.04 billion. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 3,217.00. The stock’s 50 day moving average price is GBX 2,737.76 and its 200-day moving average price is GBX 2,369.82.
In other Rio Tinto plc news, insider Jean-Sébastien Jacques bought 14 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was purchased at an average cost of GBX 2,612 ($32.63) per share, for a total transaction of £365.68 ($456.87).
About Rio Tinto plc
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.
Receive News & Stock Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related stocks with our FREE daily email newsletter.