Rio Tinto plc (RIO) Stock Rating Reaffirmed by Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reissued by research analysts at Macquarie in a report released on Wednesday. They currently have a GBX 4,500 ($58.20) price target on the stock. Macquarie’s target price indicates a potential upside of 20.11% from the stock’s current price.
RIO has been the subject of several other research reports. J P Morgan Chase & Co reduced their price target on shares of Rio Tinto plc from GBX 4,200 ($54.32) to GBX 4,150 ($53.67) and set an “overweight” rating for the company in a research report on Tuesday, May 2nd. Barclays PLC restated an “overweight” rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. HSBC Holdings plc reduced their price target on shares of Rio Tinto plc from GBX 3,850 ($49.79) to GBX 3,800 ($49.15) and set a “buy” rating for the company in a research report on Friday, July 14th. Jefferies Group LLC restated a “buy” rating and set a GBX 3,800 ($49.15) price target on shares of Rio Tinto plc in a research report on Monday, May 15th. Finally, Royal Bank Of Canada set a GBX 4,200 ($54.32) price target on shares of Rio Tinto plc and gave the stock a “buy” rating in a research report on Thursday, June 29th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the stock. Rio Tinto plc presently has a consensus rating of “Buy” and an average price target of GBX 3,773.75 ($48.81).
Shares of Rio Tinto plc (RIO) opened at 3766.00 on Wednesday. Rio Tinto plc has a one year low of GBX 2,253.50 and a one year high of GBX 3,784.50. The stock has a 50 day moving average price of GBX 3,473.88 and a 200 day moving average price of GBX 3,289.24. The company’s market capitalization is GBX 67.52 billion.
In related news, insider W Sam H. Laidlaw acquired 7,500 shares of the stock in a transaction that occurred on Monday, August 14th. The stock was purchased at an average price of GBX 3,420 ($44.23) per share, with a total value of £256,500 ($331,738.23). Also, insider Jean-Sébastien Jacques acquired 11 shares of the stock in a transaction that occurred on Monday, July 17th. The shares were bought at an average cost of GBX 3,501 ($45.28) per share, with a total value of £385.11 ($498.07).
About Rio Tinto plc
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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