Rio Tinto plc (RIO) Price Target Cut to GBX 1,485
Rio Tinto plc (LON:RIO) had its price objective decreased by equities researchers at Liberum Capital from GBX 1,590 ($19.68) to GBX 1,485 ($18.38) in a research note issued on Thursday. The brokerage presently has a “sell” rating on the stock. Liberum Capital’s target price suggests a potential downside of 45.15% from the company’s current price.
RIO has been the topic of a number of other reports. BNP Paribas reaffirmed a “neutral” rating and issued a GBX 1,950 ($24.13) price target on shares of Rio Tinto plc in a research note on Monday, June 27th. Credit Suisse Group AG raised their price target on shares of Rio Tinto plc from GBX 2,100 ($25.99) to GBX 2,300 ($28.47) and gave the company a “neutral” rating in a research note on Monday, September 19th. Jefferies Group reaffirmed a “buy” rating on shares of Rio Tinto plc in a research note on Friday, July 15th. Barclays PLC reaffirmed an “overweight” rating and issued a GBX 2,600 ($32.18) price target on shares of Rio Tinto plc in a research note on Thursday, August 4th. Finally, JPMorgan Chase & Co. set a GBX 3,000 ($37.13) price target on shares of Rio Tinto plc and gave the company a “buy” rating in a research note on Thursday, July 14th. Three equities research analysts have rated the stock with a sell rating, nine 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 price target of GBX 2,595.96 ($32.13).
Shares of Rio Tinto plc (LON:RIO) opened at 2579.50 on Thursday. The company’s market capitalization is GBX 46.40 billion. The stock has a 50 day moving average price of GBX 2,449.46 and a 200 day moving average price of GBX 2,255.01. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,800.00.
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The firm 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 ($0.42) dividend. The ex-dividend date was Thursday, August 11th. This represents a yield of 1.39%.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien acquired 15 shares of the company’s stock in a transaction on Monday, July 18th. The shares were bought at an average cost of GBX 2,433 ($30.11) per share, for a total transaction of £364.95 ($451.67).
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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