Rio Tinto plc (RIO) Rating Reiterated by Royal Bank Of Canada
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reissued by stock analysts at Royal Bank Of Canada in a report released on Tuesday. They presently have a GBX 3,400 ($44.38) price target on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 27.03% from the stock’s current price.
Other equities research analysts have also issued reports about the company. Deutsche Bank AG decreased their target price on Rio Tinto plc from GBX 3,000 ($39.16) to GBX 2,800 ($36.55) and set a “buy” rating for the company in a research report on Thursday, June 16th. Sanford C. Bernstein set a GBX 2,520 ($32.89) target price on Rio Tinto plc and gave the company a “buy” rating in a research report on Tuesday, June 21st. Haitong Bank lifted their target price on Rio Tinto plc from GBX 2,515 ($32.83) to GBX 2,783 ($36.33) and gave the company a “buy” rating in a research report on Thursday, June 30th. Jefferies Group lifted their target price on Rio Tinto plc from GBX 2,300 ($30.02) to GBX 2,600 ($33.94) and gave the company a “buy” rating in a research report on Thursday, July 7th. Finally, JPMorgan Chase & Co. set a GBX 3,000 ($39.16) target price on Rio Tinto plc and gave the company a “buy” rating in a research report on Thursday, July 14th. Two investment 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’s stock. Rio Tinto plc presently has an average rating of “Hold” and a consensus target price of GBX 2,606.16 ($34.02).
Shares of Rio Tinto plc (LON:RIO) traded up 2.18% on Tuesday, hitting GBX 2676.50. The stock had a trading volume of 5,195,535 shares. The company’s 50 day moving average price is GBX 2,427.73 and its 200-day moving average price is GBX 2,239.40. Rio Tinto plc has a 12 month low of GBX 1,557.00 and a 12 month high of GBX 2,717.00. The company’s market cap is GBX 48.14 billion.
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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 dividend of GBX 33.80 ($0.44) per share. The ex-dividend date of this dividend was Thursday, August 11th. This represents a yield of 1.39%.
In other news, insider Jacques,Jean-Sébastien acquired 15 shares of the business’s stock in a transaction on Monday, July 18th. The stock was bought at an average cost of GBX 2,433 ($31.76) per share, for a total transaction 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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