Rio Tinto plc’s (RIO) Outperform Rating Reaffirmed at Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reiterated by Macquarie in a research report issued on Monday. They currently have a GBX 3,300 ($40.22) target price on the stock. Macquarie’s price objective would indicate a potential upside of 27.49% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Credit Suisse Group AG set a GBX 2,750 ($33.52) price target on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Friday. Jefferies Group upped their price target on shares of Rio Tinto plc from GBX 2,800 ($34.13) to GBX 3,100 ($37.78) and gave the company a “buy” rating in a report on Friday. Liberum Capital decreased their price target on shares of Rio Tinto plc from GBX 1,590 ($19.38) to GBX 1,485 ($18.10) 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 decreased their price target for the company from GBX 2,600 ($31.69) to GBX 2,450 ($29.86) in a report on Thursday. Finally, BNP Paribas restated a “neutral” rating and set a GBX 2,000 ($24.38) price target on shares of Rio Tinto plc in a report on Thursday, October 6th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of GBX 2,625.96 ($32.00).
Rio Tinto plc (LON:RIO) traded down 0.29% during trading on Monday, hitting GBX 2588.50. The stock had a trading volume of 4,345,121 shares. The company’s market cap is GBX 46.56 billion. The stock has a 50-day moving average price of GBX 2,464.13 and a 200-day moving average price of GBX 2,269.00. Rio Tinto plc has a 52 week low of GBX 1,557.00 and a 52 week high of GBX 2,800.00.
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The firm also recently declared a dividend, which was paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th were paid a GBX 33.80 ($0.41) dividend. The ex-dividend date was Thursday, August 11th. This represents a yield of 1.39%.
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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