Goldman Sachs Group Inc. Reiterates “Neutral” Rating for Rio Tinto plc (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “neutral” rating restated by equities researchers at Goldman Sachs Group Inc. in a report released on Wednesday. They presently have a GBX 3,000 ($37.48) price objective on the stock. Goldman Sachs Group Inc.’s target price suggests a potential downside of 0.70% from the stock’s previous close.
Several other equities analysts also recently commented on the company. Investec reiterated a “buy” rating and issued a GBX 2,948 ($36.83) price objective on shares of Rio Tinto plc in a research note on Monday, July 25th. Citigroup Inc. downgraded Rio Tinto plc to a “sell” rating and dropped their price objective for the company from GBX 2,600 ($32.48) to GBX 2,450 ($30.61) in a research note on Thursday, October 13th. Canaccord Genuity upped their price objective on Rio Tinto plc from GBX 2,660 ($33.23) to GBX 2,800 ($34.98) and gave the company a “buy” rating in a research note on Wednesday, July 27th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,400 ($42.48) price objective on shares of Rio Tinto plc in a research note on Tuesday, October 4th. Finally, Deutsche Bank AG reiterated a “buy” rating and issued a GBX 3,230 ($40.35) price objective on shares of Rio Tinto plc in a research note on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of GBX 2,773.56 ($34.65).
Shares of Rio Tinto plc (LON:RIO) opened at 2952.00 on Wednesday. The firm has a 50 day moving average price of GBX 2,765.89 and a 200-day moving average price of GBX 2,379.01. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 3,217.00. The firm’s market cap is GBX 53.10 billion.
In other news, insider Jean-Sébastien Jacques bought 14 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was bought at an average cost of GBX 2,612 ($32.63) per share, for a total transaction of £365.68 ($456.87).
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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