Rio Tinto plc Receives “Outperform” Rating from Credit Suisse (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating restated by equities researchers at Credit Suisse in a research report issued on Friday. They currently have a GBX 4,000 ($67.31) price target on the stock. Credit Suisse’s target price would suggest a potential upside of 18.34% from the stock’s previous close.
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. Investors 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.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group raised their price target on shares of Rio Tinto plc from GBX 4,100 ($68.99) to GBX 4,200 ($70.67) in a research note on Friday. They now have a “buy” rating on the stock. Separately, 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. Finally, analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Friday. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have issued a buy rating to the company. Rio Tinto plc presently has a consensus rating of “Buy” and an average target price of GBX 3,746.73 ($63.04).
Rio Tinto plc (LON:RIO) is an international mining company.
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