Rio Tinto plc Stock Rating Reaffirmed by Citigroup Inc. (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reaffirmed by Citigroup Inc. in a research note issued on Friday. They currently have a GBX 3,850 ($64.78) price objective on the stock. Citigroup Inc.’s price objective points to a potential upside of 13.91% from the company’s current price.
Rio Tinto plc (LON:RIO) traded up 0.21% during mid-day trading on Friday, hitting GBX 3380.00. The stock had a trading volume of 4,284,234 shares. Rio Tinto plc has a 52-week low of GBX 2908.50 and a 52-week 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 announced a dividend, which is scheduled for Thursday, September 11th. Stockholders of record on Wednesday, August 13th will be paid a dividend of GBX 56.90 ($0.96) per share. This represents a dividend yield of 1.68%. The ex-dividend date is Wednesday, August 13th.
RIO has been the subject of a number of other recent research reports. Analysts at Beaufort Securities reiterated a “buy” rating on shares of Rio Tinto plc in a research note on Friday. Separately, 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. Finally, analysts at Investec reiterated a “hold” rating on shares of Rio Tinto plc in a research note on Thursday. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and seventeen have issued a buy rating to the company. Rio Tinto plc currently has an average 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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