Rio Tinto plc (RIO) Given New GBX 3,600 Price Target at Jefferies Group
Rio Tinto plc (LON:RIO) had its price target increased by Jefferies Group from GBX 3,300 ($40.94) to GBX 3,600 ($44.66) in a research report released on Monday morning. The firm currently has a buy rating on the stock.
A number of other analysts have also commented on RIO. Macquarie reiterated an outperform rating and set a GBX 2,900 ($35.98) price target on shares of Rio Tinto plc in a report on Thursday, August 4th. Beaufort Securities restated a hold rating on shares of Rio Tinto plc in a research note on Thursday, August 4th. BNP Paribas boosted their target price on Rio Tinto plc from GBX 1,950 ($24.19) to GBX 2,000 ($24.81) and gave the company a neutral rating in a research note on Thursday, August 4th. Canaccord Genuity restated a buy rating and issued a GBX 3,130 ($38.83) target price on shares of Rio Tinto plc in a research note on Thursday, October 20th. Finally, Societe Generale set a GBX 2,900 ($35.98) target price on Rio Tinto plc and gave the company a neutral rating in a research note on Monday, November 21st. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the company’s stock. Rio Tinto plc currently has a consensus rating of Buy and a consensus price target of GBX 2,881.56 ($35.75).
Shares of Rio Tinto plc (LON:RIO) opened at 3079.50 on Monday. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 3,217.00. The company’s market cap is GBX 55.39 billion. The stock’s 50 day moving average price is GBX 2,857.61 and its 200-day moving average price is GBX 2,428.37.
In related 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 ($32.40) per share, for a total transaction of £365.68 ($453.64).
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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