Jefferies Group Increases Rio Tinto plc Price Target to GBX 4,200 (RIO)
Equities research analysts at Jefferies Group upped their price target on shares of Rio Tinto plc (LON:RIO) from GBX 4,100 ($68.99) to GBX 4,200 ($70.67) in a research note issued to investors on Friday. The firm currently has a “buy” rating on the stock. Jefferies Group’s price target would suggest a potential upside of 24.26% from the stock’s previous close.
A number of other firms have also recently commented on RIO. Analysts at Citigroup Inc. reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Friday. They now have a GBX 3,850 ($64.78) price target on the stock. Separately, analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Friday. Finally, analysts at BMO Capital Markets reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Thursday. They now have a GBX 3,500 ($58.89) price target on the stock. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of GBX 3,746.73 ($63.04).
Shares of Rio Tinto plc (LON:RIO) traded up 0.21% on Friday, hitting GBX 3380.00. The stock had a trading volume of 4,284,234 shares. Rio Tinto plc has a one year low of GBX 2908.50 and a one year high of GBX 3680.5601. The stock’s 50-day moving average is GBX 3278. and its 200-day moving average is GBX 3276.. The company’s market cap is £62.484 billion.
The company also recently declared a dividend, which is scheduled for Thursday, September 11th. Shareholders of record on Wednesday, August 13th will be given a dividend of GBX 56.90 ($0.96) per share. This represents a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, August 13th.
Rio Tinto plc (LON:RIO) is an international mining company.
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