Rio Tinto plc (RIO) Given “Buy” Rating at Citigroup Inc.
RIO has been the topic of several other reports. Barclays PLC restated an overweight rating and set a GBX 4,300 ($55.82) price target on shares of Rio Tinto plc in a report on Wednesday, May 3rd. J P Morgan Chase & Co set a GBX 3,950 ($51.28) price target on shares of Rio Tinto plc and gave the stock a buy rating in a report on Thursday, July 13th. Deutsche Bank AG restated a buy rating and set a GBX 4,200 ($54.52) price target on shares of Rio Tinto plc in a report on Thursday, August 3rd. UBS AG set a GBX 3,750 ($48.68) price target on shares of Rio Tinto plc and gave the stock a buy rating in a report on Friday, August 11th. Finally, Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($38.95) price target on shares of Rio Tinto plc and gave the stock a neutral rating in a report on Tuesday, August 15th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company. Rio Tinto plc currently has a consensus rating of Buy and an average target price of GBX 3,738.75 ($48.54).
Rio Tinto plc (RIO) opened at 3634.50 on Wednesday. The company’s market capitalization is GBX 65.16 billion. The firm’s 50-day moving average price is GBX 3,455.39 and its 200 day moving average price is GBX 3,283.60. Rio Tinto plc has a 12-month low of GBX 2,253.50 and a 12-month high of GBX 3,718.50.
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The company also recently announced a dividend, which will be paid on Thursday, September 21st. Investors of record on Thursday, August 10th will be issued a dividend of GBX 83.13 ($1.08) per share. This represents a yield of 2.31%. The ex-dividend date of this dividend is Thursday, August 10th.
In other news, insider Jean-Sébastien Jacques bought 11 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The shares were acquired at an average price of GBX 3,501 ($45.45) per share, with a total value of £385.11 ($499.95). Also, insider W Sam H. Laidlaw bought 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The shares were purchased at an average cost of GBX 3,420 ($44.40) per share, for a total transaction of £256,500 ($332,987.15).
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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