Rio Tinto plc (RIO) PT Raised to GBX 3,000 at Societe Generale
Rio Tinto plc (LON:RIO) had its price objective increased by equities researchers at Societe Generale from GBX 2,900 ($36.23) to GBX 3,000 ($37.48) in a research report issued to clients and investors on Friday. The firm currently has a “hold” rating on the stock. Societe Generale’s price objective would indicate a potential downside of 3.32% from the stock’s current price.
A number of other research analysts have also weighed in on the stock. JPMorgan Chase & Co. reissued an “overweight” rating and issued a GBX 3,200 ($39.98) target price on shares of Rio Tinto plc in a report on Tuesday. Macquarie reissued an “outperform” rating and issued a GBX 3,700 ($46.23) target price on shares of Rio Tinto plc in a report on Sunday, November 20th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a GBX 3,000 ($37.48) target price on shares of Rio Tinto plc in a report on Wednesday, November 16th. Deutsche Bank AG raised their target price on shares of Rio Tinto plc from GBX 3,245 ($40.54) to GBX 3,250 ($40.60) and gave the company a “buy” rating in a report on Monday, November 14th. Finally, HSBC assumed coverage on shares of Rio Tinto plc in a report on Thursday, November 10th. They issued a “buy” rating and a GBX 3,300 ($41.23) target price for the company. 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. Rio Tinto plc currently has a consensus rating of “Hold” and an average price target of GBX 2,793.56 ($34.90).
Shares of Rio Tinto plc (LON:RIO) opened at 3103.00 on Friday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 3,217.00. The company’s market capitalization is GBX 55.82 billion. The company’s 50-day moving average is GBX 2,825.88 and its 200-day moving average is GBX 2,410.00.
In other Rio Tinto plc news, insider Jean-Sébastien Jacques bought 14 shares of Rio Tinto plc stock in a transaction dated Monday, October 17th. The stock was acquired at an average cost of GBX 2,612 ($32.63) per share, with a total value of £365.68 ($456.87).
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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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