Rio Tinto plc (RIO) PT Raised to GBX 4,400 at Royal Bank of Canada
Rio Tinto plc (LON:RIO) had its price objective increased by Royal Bank of Canada from GBX 4,000 ($49.40) to GBX 4,400 ($54.34) in a report issued on Wednesday. The firm currently has an outperform rating on the stock.
Several other research firms have also commented on RIO. Goldman Sachs Group Inc reissued a neutral rating and issued a GBX 3,000 ($37.05) price objective on shares of Rio Tinto plc in a research note on Wednesday, November 16th. Barclays PLC reissued an overweight rating and issued a GBX 4,490 ($55.45) price objective on shares of Rio Tinto plc in a research note on Thursday, January 26th. JPMorgan Chase & Co. raised their price objective on shares of Rio Tinto plc from GBX 3,200 ($39.52) to GBX 3,650 ($45.08) and gave the company an overweight rating in a research note on Friday, November 25th. Jefferies Group LLC reissued a buy rating and issued a GBX 3,600 ($44.46) price objective on shares of Rio Tinto plc in a research note on Wednesday, December 7th. Finally, Societe Generale raised their price objective on shares of Rio Tinto plc from GBX 2,900 ($35.82) to GBX 3,000 ($37.05) and gave the company a hold rating in a research note on Friday, November 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of GBX 3,445.90 ($42.56).
Rio Tinto plc (LON:RIO) opened at 3470.00 on Wednesday. The firm’s 50-day moving average is GBX 3,436.29 and its 200-day moving average is GBX 3,036.65. Rio Tinto plc has a 52 week low of GBX 1,845.00 and a 52 week high of GBX 3,718.50. The firm’s market cap is GBX 62.43 billion.
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The business also recently declared a dividend, which will be paid on Thursday, April 6th. Stockholders of record on Thursday, February 23rd will be paid a dividend of GBX 100.56 ($1.24) per share. The ex-dividend date of this dividend is Thursday, February 23rd. This is a boost from Rio Tinto plc’s previous dividend of $33.80. This represents a dividend yield of 2.98%.
In other news, insider Jean-Sébastien Jacques sold 3,325 shares of the company’s stock in a transaction on Monday, February 20th. The shares were sold at an average price of GBX 3,618 ($44.68), for a total transaction of £120,298.50 ($148,571.69).
Rio Tinto plc Company Profile
Rio Tinto plc is a mining company. The Company focuses on finding, mining, processing and marketing the Earth’s mineral resources. The Company’s segments include aluminum, copper and coal, diamonds and minerals, and iron ore. The Company’s aluminum business includes bauxite mines, alumina refineries and aluminum smelters.
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