Rio Tinto (RIO) Trading Up 2.3%
Rio Tinto plc (LON:RIO) was up 2.3% during mid-day trading on Monday . The stock traded as high as GBX 3,554.50 ($47.84) and last traded at GBX 3,538 ($47.62). Approximately 3,824,128 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 3,860,000 shares. The stock had previously closed at GBX 3,457.44 ($46.53).
Several equities research analysts have issued reports on RIO shares. BNP Paribas set a GBX 4,000 ($53.84) price target on shares of Rio Tinto and gave the company a “buy” rating in a report on Wednesday, September 6th. Deutsche Bank boosted their price target on shares of Rio Tinto from GBX 4,200 ($56.53) to GBX 4,300 ($57.87) and gave the company a “buy” rating in a report on Tuesday, September 12th. reissued a “buy” rating and issued a GBX 3,800 ($51.14) price target on shares of Rio Tinto in a report on Wednesday, August 30th. Citigroup reissued a “buy” rating on shares of Rio Tinto in a report on Wednesday, August 23rd. Finally, Jefferies Group boosted their price target on shares of Rio Tinto from GBX 4,000 ($53.84) to GBX 4,200 ($56.53) and gave the company a “buy” rating in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of GBX 4,002.25 ($53.87).
In other Rio Tinto news, insider Jean-Sébastien Jacques bought 10 shares of the business’s stock in a transaction on Tuesday, October 17th. The shares were bought at an average cost of GBX 3,721 ($50.08) per share, for a total transaction of £372.10 ($500.81). Also, insider Christopher Lynch bought 26,066 shares of the business’s stock in a transaction on Friday, December 1st. The shares were acquired at an average price of GBX 3,490 ($46.97) per share, for a total transaction of £909,703.40 ($1,224,365.28).
About Rio Tinto
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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