Jefferies Group Boosts Rio Tinto plc (RIO) Price Target to GBX 3,100
Rio Tinto plc (LON:RIO) had its target price raised by stock analysts at Jefferies Group from GBX 2,800 ($34.65) to GBX 3,100 ($38.37) in a research note issued to investors on Friday. The brokerage currently has a “buy” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 20.34% from the stock’s current price.
A number of other equities analysts have also issued reports on the stock. Liberum Capital dropped their target price on shares of 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 report on Thursday. Citigroup Inc. lowered shares of Rio Tinto plc to a “sell” rating and dropped their target price for the stock from GBX 2,600 ($32.18) to GBX 2,450 ($30.32) in a research report on Thursday. BNP Paribas reaffirmed a “neutral” rating and set a GBX 2,000 ($24.75) target price on shares of Rio Tinto plc in a research report on Thursday, October 6th. Deutsche Bank AG boosted their target price on shares of Rio Tinto plc from GBX 3,230 ($39.98) to GBX 3,245 ($40.16) and gave the stock a “buy” rating in a research report on Wednesday, October 5th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and set a GBX 3,400 ($42.08) target price on shares of Rio Tinto plc in a research report on Tuesday, October 4th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. Rio Tinto plc presently has an average rating of “Hold” and an average target price of GBX 2,607.96 ($32.28).
Rio Tinto plc (LON:RIO) opened at 2637.00 on Friday. Rio Tinto plc has a 1-year low of GBX 1,557.00 and a 1-year high of GBX 2,800.00. The firm’s market cap is GBX 47.43 billion. The firm’s 50-day moving average is GBX 2,452.96 and its 200 day moving average is GBX 2,257.26.
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The company also recently declared a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th were given a dividend of GBX 33.80 ($0.42) per share. 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 purchased 15 shares of Rio Tinto plc stock in a transaction on Monday, July 18th. The stock was purchased at an average price of GBX 2,433 ($30.11) per share, with a total value of £364.95 ($451.67).
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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