Shares of Rio Tinto plc (LON:RIO) were down 2% during trading on Tuesday . The stock traded as low as GBX 4,024 ($54.57) and last traded at GBX 4,088.54 ($55.45). Approximately 4,750,000 shares changed hands during trading, an increase of 48% from the average daily volume of 3,210,000 shares. The stock had previously closed at GBX 4,172.50 ($56.58).

Several analysts have recently commented on RIO shares. Barclays raised their price objective on shares of Rio Tinto from GBX 4,300 ($58.31) to GBX 4,500 ($61.03) and gave the stock an “overweight” rating in a research report on Monday, January 8th. Citigroup reaffirmed a “buy” rating on shares of Rio Tinto in a research report on Wednesday, January 10th. Credit Suisse Group reaffirmed an “outperform” rating and set a GBX 4,300 ($58.31) price objective on shares of Rio Tinto in a research report on Wednesday, November 15th. Liberum Capital raised their price objective on shares of Rio Tinto from GBX 2,450 ($33.22) to GBX 2,750 ($37.29) and gave the stock a “sell” rating in a research report on Monday, November 27th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a GBX 4,100 ($55.60) price objective on shares of Rio Tinto in a research report on Tuesday, December 5th. One equities 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. The stock currently has a consensus rating of “Buy” and a consensus price target of GBX 4,049.75 ($54.92).

The company has a market capitalization of $73,480.00 and a P/E ratio of 1,611.45.

In other Rio Tinto news, insider Christopher Lynch bought 26,066 shares of the stock in a transaction dated Friday, December 1st. The shares were bought at an average cost of GBX 3,490 ($47.33) per share, for a total transaction of £909,703.40 ($1,233,663.41).

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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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