Deutsche Bank AG Raises Rio Tinto plc (RIO) Price Target to GBX 3,245
Rio Tinto plc (LON:RIO) had its target price raised by Deutsche Bank AG from GBX 3,230 ($42.16) to GBX 3,245 ($42.36) in a research note issued to investors on Wednesday. The brokerage currently has a “buy” rating on the stock. Deutsche Bank AG’s target price points to a potential upside of 21.24% from the company’s current price.
Other equities analysts also recently issued research reports about the company. Citigroup Inc. set a GBX 2,600 ($33.94) price objective on Rio Tinto plc and gave the stock a “neutral” rating in a report on Friday, September 30th. Royal Bank Of Canada reiterated an “outperform” rating and issued a GBX 3,400 ($44.38) price objective on shares of Rio Tinto plc in a report on Tuesday. Macquarie reiterated an “outperform” rating and issued a GBX 2,900 ($37.85) price objective on shares of Rio Tinto plc in a report on Wednesday, August 10th. Jefferies Group reiterated a “buy” rating on shares of Rio Tinto plc in a report on Friday, July 15th. Finally, JPMorgan Chase & Co. increased 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 report on Tuesday, August 2nd. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of GBX 2,606.16 ($34.02).
Rio Tinto plc (LON:RIO) traded up 2.18% during midday trading on Wednesday, reaching GBX 2676.50. 5,195,535 shares of the company traded hands. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,717.00. The company’s market capitalization is GBX 48.14 billion. The stock’s 50 day moving average is GBX 2,427.73 and its 200 day moving average is GBX 2,239.40.
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The company also recently disclosed a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th were paid a GBX 33.80 ($0.44) dividend. This represents a yield of 1.39%. The ex-dividend date of this dividend was Thursday, August 11th.
In other news, insider Jacques,Jean-Sébastien acquired 15 shares of Rio Tinto plc stock in a transaction on Monday, July 18th. The shares were acquired at an average price of GBX 2,433 ($31.76) per share, with a total value of £364.95 ($476.37).
Rio Tinto plc Company Profile
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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