Rio Tinto plc (RIO) Stock Rating Reaffirmed by Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating restated by equities research analysts at Macquarie in a note issued to investors on Sunday. They presently have a GBX 3,700 ($46.23) target price on the stock. Macquarie’s price objective would indicate a potential upside of 26.11% from the company’s current price.
Several other brokerages also recently weighed in on RIO. Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 3,400 ($42.48) price target on shares of Rio Tinto plc in a report on Tuesday, October 4th. BNP Paribas reaffirmed a “neutral” rating and set a GBX 2,000 ($24.99) price target on shares of Rio Tinto plc in a report on Thursday, October 6th. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a GBX 3,000 ($37.48) price target on shares of Rio Tinto plc in a report on Wednesday. Canaccord Genuity reaffirmed a “buy” rating and set a GBX 2,800 ($34.98) price target on shares of Rio Tinto plc in a report on Wednesday, August 3rd. Finally, Credit Suisse Group AG set a GBX 2,750 ($34.36) price target on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Friday, October 14th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of GBX 2,773.56 ($34.65).
Shares of Rio Tinto plc (LON:RIO) opened at 2934.00 on Friday. The stock’s market cap is GBX 52.78 billion. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 3,217.00. The stock has a 50 day moving average of GBX 2,780.90 and a 200-day moving average of GBX 2,383.44.
In other Rio Tinto plc 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 price 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.
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