Rio Tinto plc (RIO) Stock Rating Reaffirmed by JPMorgan Chase & Co.
Rio Tinto plc (LON:RIO)‘s stock had its “overweight” rating reaffirmed by JPMorgan Chase & Co. in a research report issued on Wednesday. They presently have a GBX 3,200 ($39.98) price objective on the stock. JPMorgan Chase & Co.’s target price points to a potential upside of 5.93% from the stock’s current price.
A number of other analysts have also recently weighed in on the stock. Investec reissued a “buy” rating and set a GBX 2,948 ($36.83) price objective on shares of Rio Tinto plc in a report on Monday, July 25th. Citigroup Inc. cut shares of Rio Tinto plc to a “sell” rating and cut their price objective for the stock from GBX 2,600 ($32.48) to GBX 2,450 ($30.61) in a report on Thursday, October 13th. Canaccord Genuity raised their price objective on shares of Rio Tinto plc from GBX 2,660 ($33.23) to GBX 2,800 ($34.98) and gave the stock a “buy” rating in a report on Wednesday, July 27th. Royal Bank Of Canada reissued an “outperform” rating and set a GBX 3,400 ($42.48) price objective on shares of Rio Tinto plc in a report on Tuesday, October 4th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a GBX 3,230 ($40.35) target price on shares of Rio Tinto plc in a report on Monday, August 8th. 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 stock. The stock currently has an average rating of “Hold” and an average target price of GBX 2,773.56 ($34.65).
Rio Tinto plc (LON:RIO) opened at 2952.00 on Wednesday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 3,217.00. The firm’s 50-day moving average is GBX 2,765.89 and its 200 day moving average is GBX 2,379.01. The stock’s market capitalization is GBX 53.10 billion.
In related news, insider Jean-Sébastien Jacques acquired 14 shares of the company’s stock in a transaction dated Monday, October 17th. The stock was bought at an average price of GBX 2,612 ($32.63) per share, with a total value 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.
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