Rio Tinto plc (LON:RIO) Price Target Raised to GBX 4,200
Rio Tinto plc (LON:RIO) had its target price upped by analysts at Deutsche Bank AG from GBX 4,140 ($53.63) to GBX 4,200 ($54.40) in a research note issued to investors on Thursday, June 22nd, Marketbeat Ratings reports. The firm currently has a “buy” rating on the stock. Deutsche Bank AG’s target price would indicate a potential upside of 21.81% from the company’s previous close.
Other analysts also recently issued research reports about the stock. UBS AG set a GBX 3,750 ($48.58) price objective on shares of Rio Tinto plc and gave the stock a “buy” rating in a research note on Thursday, April 20th. HSBC Holdings plc reissued a “buy” rating and issued a GBX 4,000 ($51.81) price objective on shares of Rio Tinto plc in a research note on Wednesday, April 19th. J P Morgan Chase & Co reissued an “overweight” rating and issued a GBX 4,200 ($54.40) price objective on shares of Rio Tinto plc in a research note on Friday, April 21st. Citigroup Inc. reaffirmed a “buy” rating and set a GBX 3,400 ($44.04) price target on shares of Rio Tinto plc in a research note on Monday, June 19th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a GBX 3,800 ($49.22) price target on shares of Rio Tinto plc in a research note on Tuesday, April 4th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and fourteen have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of GBX 3,668.24 ($47.52).
Shares of Rio Tinto plc (RIO) traded up 0.82% on Thursday, reaching GBX 3448.00. The company’s stock had a trading volume of 3,158,503 shares. The stock’s market cap is GBX 62.03 billion. The firm’s 50 day moving average is GBX 3,131.23 and its 200-day moving average is GBX 3,240.47. Rio Tinto plc has a 52-week low of GBX 2,253.50 and a 52-week high of GBX 3,718.50.
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In other Rio Tinto plc news, insider Jean-Sébastien Jacques acquired 12 shares of the company’s stock in a transaction that occurred on Monday, April 24th. The stock was bought at an average price of GBX 3,043 ($39.42) per share, with a total value of £365.16 ($473.01). Also, insider Christopher Lynch sold 7,582 shares of the company’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of GBX 3,108 ($40.26), for a total transaction of £235,648.56 ($305,244.25). In the last 90 days, insiders have sold 7,599 shares of company stock valued at $23,616,383.
Rio Tinto plc Company Profile
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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