Rio Tinto plc’s Buy Rating Reiterated at Jefferies Group (RIO)
Rio Tinto plc (LON:RIO)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a note issued to investors on Friday. They currently have a GBX 4,200 ($69.50) price target on the stock. Jefferies Group’s target price points to a potential upside of 30.88% from the stock’s previous close.
Rio Tinto plc (LON:RIO) traded down 0.03% during mid-day trading on Friday, hitting GBX 3208.0002. The stock had a trading volume of 2,163,885 shares. Rio Tinto plc has a 1-year low of GBX 2908.50 and a 1-year high of GBX 3641.9998. The stock has a 50-day moving average of GBX 3366.14 and a 200-day moving average of GBX 3291.09. The company’s market cap is £59.335 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 ($0.94) per share. This represents a yield of 1.68%. The ex-dividend date of this dividend is Wednesday, August 13th.
Other equities research analysts have also recently issued reports about the stock. Analysts at Sanford C. Bernstein reiterated an “outperform” rating on shares of Rio Tinto plc in a research note on Tuesday. They now have a GBX 4,000 ($66.19) price target on the stock. Finally, analysts at Investec reiterated a “hold” rating on shares of Rio Tinto plc in a research note on Tuesday, August 19th. They now have a GBX 3,552 ($58.78) price target on the stock. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of GBX 3,743.48 ($61.95).
Rio Tinto plc (LON:RIO) is an international mining company.
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