Rio Tinto plc Rating Reiterated by JPMorgan Chase & Co. (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “overweight” rating reiterated by investment analysts at JPMorgan Chase & Co. in a note issued to investors on Wednesday, American Banking & Market News reports. They currently have a GBX 4,600 ($76.50) price target on the stock. JPMorgan Chase & Co.’s price target points to a potential upside of 35.00% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded down 0.92% during mid-day trading on Wednesday, hitting GBX 3407.50. 4,529,912 shares of the company’s stock traded hands. Rio Tinto plc has a 52-week low of GBX 2579.2219 and a 52-week high of GBX 3641.9998. The stock’s 50-day moving average is GBX 3335. and its 200-day moving average is GBX 3220.88. The company’s market cap is £62.988 billion.
The company also recently announced a dividend, which is scheduled for Thursday, April 10th. Shareholders of record on Wednesday, March 5th will be paid a dividend of GBX 65.82 ($1.09) per share. This represents a dividend yield of 1.84%. The ex-dividend date is Wednesday, March 5th.
RIO has been the subject of a number of other recent research reports. Analysts at Macquarie reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Monday. They now have a GBX 4,200 ($69.85) price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Monday. They now have a GBX 4,641 ($77.18) price target on the stock. Finally, analysts at Investec raised their price target on shares of Rio Tinto plc from GBX 3,684 ($61.27) to GBX 3,765 ($62.61) in a research note on Friday, February 21st. They now have a “buy” rating on the stock. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of GBX 3,806.68 ($63.31).
Rio Tinto plc (LON:RIO) is an international mining company.
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