Credit Suisse Group AG Analysts Give Rio Tinto plc (RIO) a GBX 2,750 Price Target
Rio Tinto plc (LON:RIO) has been assigned a GBX 2,750 ($34.03) target price by stock analysts at Credit Suisse Group AG in a research report issued to clients and investors on Friday. The firm currently has a a “neutral” rating on the stock. Credit Suisse Group AG’s price objective would suggest a potential upside of 6.75% from the stock’s current price.
Several other analysts also recently commented on RIO. Jefferies Group increased their target price on Rio Tinto plc from GBX 2,800 ($34.65) to GBX 3,100 ($38.37) and gave the company a “buy” rating in a research note on Friday. Liberum Capital cut their target price on Rio Tinto plc from GBX 1,590 ($19.68) to GBX 1,485 ($18.38) and set a “sell” rating on the stock in a research note on Thursday. Citigroup Inc. downgraded Rio Tinto plc to a “sell” rating and cut their target price for the company from GBX 2,600 ($32.18) to GBX 2,450 ($30.32) in a research note on Thursday. BNP Paribas reiterated a “neutral” rating and set a GBX 2,000 ($24.75) target price on shares of Rio Tinto plc in a research note on Thursday, October 6th. Finally, Deutsche Bank AG increased their target price on Rio Tinto plc from GBX 3,230 ($39.98) to GBX 3,245 ($40.16) and gave the company a “buy” rating in a research note on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of GBX 2,625.96 ($32.50).
Shares of Rio Tinto plc (LON:RIO) traded up 0.78% during mid-day trading on Friday, reaching GBX 2596.00. The company had a trading volume of 3,895,998 shares. The company has a 50 day moving average price of GBX 2,452.96 and a 200 day moving average price of GBX 2,257.26. The company’s market capitalization is GBX 46.70 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,800.00.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/14/credit-suisse-group-ag-analysts-give-rio-tinto-plc-rio-a-gbx-2750-price-target.html
The firm also recently disclosed a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were paid a GBX 33.80 ($0.42) dividend. This represents a yield of 1.39%. The ex-dividend date was Thursday, August 11th.
In other Rio Tinto plc news, insider Jacques,Jean-Sébastien acquired 15 shares of Rio Tinto plc stock in a transaction that occurred on Monday, July 18th. The stock was bought at an average price of GBX 2,433 ($30.11) per share, with a total value 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.
Receive News & Ratings for Rio Tinto plc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rio Tinto plc and related companies with MarketBeat.com's FREE daily email newsletter.