UBS AG Reiterates “GBX 3,750” Price Target for Rio Tinto plc (RIO)
UBS AG set a GBX 3,750 ($50.43) target price on Rio Tinto plc (LON:RIO) in a research note released on Monday morning, www.boersen-zeitung.de reports. The brokerage currently has a buy rating on the stock.
Several other research analysts also recently commented on the stock. Morgan Stanley set a GBX 3,430 ($46.13) price objective on shares of Rio Tinto plc and gave the company a neutral rating in a report on Monday. J P Morgan Chase & Co set a GBX 4,100 ($55.14) price objective on shares of Rio Tinto plc and gave the company a buy rating in a report on Monday. Jefferies Group LLC reissued a buy rating and set a GBX 4,200 ($56.48) price objective on shares of Rio Tinto plc in a report on Thursday, September 21st. Goldman Sachs Group, Inc. (The) reissued a neutral rating and set a GBX 3,000 ($40.34) price objective on shares of Rio Tinto plc in a report on Friday, September 22nd. Finally, Deutsche Bank AG reissued a buy rating and set a GBX 4,300 ($57.83) price objective on shares of Rio Tinto plc in a report on Friday, September 22nd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Rio Tinto plc has a consensus rating of Buy and a consensus price target of GBX 3,791.25 ($50.99).
Shares of Rio Tinto plc (RIO) opened at 3408.50 on Monday. The company’s market cap is GBX 61.11 billion. The firm’s 50-day moving average price is GBX 3,570.46 and its 200 day moving average price is GBX 3,303.48. Rio Tinto plc has a 52 week low of GBX 2,434.50 and a 52 week high of GBX 3,784.50.
The business also recently announced a dividend, which was paid on Thursday, September 21st. Stockholders of record on Thursday, August 10th were given a dividend of GBX 83.13 ($1.12) per share. This represents a dividend yield of 2.31%. The ex-dividend date of this dividend was Thursday, August 10th.
In related news, insider Jean-Sébastien Jacques bought 11 shares of Rio Tinto plc stock in a transaction dated Monday, July 17th. The shares were acquired at an average cost of GBX 3,501 ($47.08) per share, with a total value of £385.11 ($517.90). Also, insider W Sam H. Laidlaw bought 7,500 shares of Rio Tinto plc stock in a transaction dated Monday, August 14th. The shares were bought at an average cost of GBX 3,420 ($45.99) per share, for a total transaction of £256,500 ($344,943.52).
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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