Rio Tinto plc (RIO) Rating Reiterated by Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reissued by equities research analysts at Macquarie in a research report issued to clients and investors on Monday. They currently have a GBX 3,300 ($40.84) target price on the stock. Macquarie’s target price indicates a potential upside of 26.32% from the stock’s previous close.
Several other research analysts have also recently commented on the stock. Credit Suisse Group AG set a GBX 2,750 ($34.03) target price on shares of Rio Tinto plc and gave the stock a “neutral” rating in a report on Friday. Jefferies Group increased their target price on shares of Rio Tinto plc from GBX 2,800 ($34.65) to GBX 3,100 ($38.37) and gave the stock a “buy” rating in a report on Friday. Liberum Capital reduced 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 for the company in a report on Thursday. Citigroup Inc. cut shares of Rio Tinto plc to a “sell” rating and reduced their target price for the stock from GBX 2,600 ($32.18) to GBX 2,450 ($30.32) in a report on Thursday. Finally, BNP Paribas restated a “neutral” rating and set a GBX 2,000 ($24.75) target price on shares of Rio Tinto plc in a report on Thursday, October 6th. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fifteen have issued a buy rating to the company. Rio Tinto plc presently has a consensus rating of “Hold” and an average price target of GBX 2,625.96 ($32.50).
Rio Tinto plc (LON:RIO) opened at 2615.00 on Monday. The stock’s 50 day moving average is GBX 2,458.92 and its 200 day moving average is GBX 2,261.04. The company’s market cap is GBX 47.04 billion. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month 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/2016/10/17/rio-tinto-plc-rio-rating-reiterated-by-macquarie.html
The business also recently declared a dividend, which was paid on Thursday, September 22nd. Stockholders 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 dividend yield of 1.39%.
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.