Rio Tinto plc (RIO) Given New GBX 2,800 Price Target at Barclays PLC
Rio Tinto plc (LON:RIO) had its target price raised by research analysts at Barclays PLC from GBX 2,600 ($33.94) to GBX 2,800 ($36.55) in a report released on Wednesday. The firm currently has an “overweight” rating on the stock. Barclays PLC’s target price would suggest a potential upside of 18.64% from the stock’s previous close.
Other equities research analysts have also issued reports about the company. Macquarie restated an “outperform” rating and set a GBX 2,900 ($37.85) price objective on shares of Rio Tinto plc in a research report on Wednesday, August 10th. Jefferies Group restated a “buy” rating on shares of Rio Tinto plc in a research report on Friday, July 15th. Citigroup Inc. set a GBX 2,500 ($32.63) price objective on Rio Tinto plc and gave the stock a “neutral” rating in a research report on Wednesday, July 13th. JPMorgan Chase & Co. raised their price objective on Rio Tinto plc from GBX 3,000 ($39.16) to GBX 3,050 ($39.81) and gave the stock an “overweight” rating in a research report on Tuesday, August 2nd. Finally, Deutsche Bank AG restated a “buy” rating and set a GBX 3,160 ($41.25) price objective on shares of Rio Tinto plc in a research report on Tuesday, August 2nd. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2388.50 on Wednesday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,621.00. The stock’s market cap is GBX 42.96 billion. The firm has a 50-day moving average price of GBX 2,395.41 and a 200-day moving average price of GBX 2,193.63.
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The firm also recently disclosed a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th will be paid a GBX 33.80 ($0.44) dividend. This represents a yield of 1.39%. The ex-dividend date is Thursday, August 11th.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien acquired 15 shares of Rio Tinto plc stock in a transaction on Monday, July 18th. The shares were bought at an average price of GBX 2,433 ($31.76) per share, with a total value of £364.95 ($476.37).
About Rio Tinto plc
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
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