Rio Tinto plc (RIO) Receives “Overweight” Rating from JPMorgan Chase & Co.
JPMorgan Chase & Co. reissued their overweight rating on shares of Rio Tinto plc (LON:RIO) in a report issued on Tuesday. JPMorgan Chase & Co. currently has a GBX 3,200 ($39.98) price target on the stock.
Several other research analysts have also recently weighed in on the stock. Investec restated a buy rating and issued a GBX 2,948 ($36.83) price objective on shares of Rio Tinto plc in a research report on Monday, July 25th. Citigroup Inc. lowered Rio Tinto plc to a sell rating and cut their target price for the stock from GBX 2,600 ($32.48) to GBX 2,450 ($30.61) in a research note on Thursday, October 13th. Canaccord Genuity upped their target price on Rio Tinto plc from GBX 2,660 ($33.23) to GBX 2,800 ($34.98) and gave the stock a buy rating in a research note on Wednesday, July 27th. Royal Bank Of Canada reaffirmed an outperform rating and issued a GBX 3,400 ($42.48) target price on shares of Rio Tinto plc in a research note 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 research note on Monday, August 8th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of Hold and an average price target of GBX 2,789.56 ($34.85).
Shares of Rio Tinto plc (LON:RIO) opened at 3070.50 on Tuesday. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 3,217.00. The firm’s market capitalization is GBX 55.23 billion. The stock has a 50 day moving average of GBX 2,799.47 and a 200-day moving average of GBX 2,397.91.
In related news, insider Jean-Sébastien Jacques acquired 14 shares of the firm’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).
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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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