Rio Tinto plc (RIO) PT Raised to GBX 2,900 at Goldman Sachs Group, Inc. (The)
Rio Tinto plc (LON:RIO) had its target price raised by equities research analysts at Goldman Sachs Group, Inc. (The) from GBX 2,800 ($36.27) to GBX 2,900 ($37.56) in a report issued on Wednesday, Marketbeat Ratings reports. The brokerage currently has a “neutral” rating on the stock. Goldman Sachs Group, Inc. (The)’s price objective would suggest a potential downside of 13.74% from the company’s current price.
RIO has been the subject of a number of other research reports. Jefferies Group LLC restated a “buy” rating on shares of Rio Tinto plc in a research report on Wednesday, March 29th. Royal Bank of Canada upped their price objective on shares of Rio Tinto plc from GBX 4,000 ($51.81) to GBX 4,400 ($56.99) and gave the company an “outperform” rating in a research report on Wednesday, March 15th. Barclays PLC restated an “overweight” rating and issued a GBX 4,300 ($55.70) price objective on shares of Rio Tinto plc in a research report on Wednesday, May 3rd. Liberum Capital restated a “sell” rating and issued a GBX 2,400 ($31.09) price objective on shares of Rio Tinto plc in a research report on Thursday, April 20th. Finally, BNP Paribas restated a “neutral” rating and issued a GBX 3,650 ($47.28) price objective on shares of Rio Tinto plc in a research report on Tuesday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of GBX 3,681.65 ($47.69).
Shares of Rio Tinto plc (RIO) traded up 0.43% during mid-day trading on Wednesday, hitting GBX 3362.00. The stock had a trading volume of 2,502,267 shares. The stock’s 50-day moving average price is GBX 3,131.23 and its 200-day moving average price is GBX 3,240.47. The stock’s market capitalization is GBX 60.49 billion. Rio Tinto plc has a 12-month low of GBX 2,253.50 and a 12-month high of GBX 3,718.50.
ILLEGAL ACTIVITY NOTICE: This report was first posted by American Banking News and is owned by of American Banking News. If you are accessing this report on another website, it was stolen and reposted in violation of U.S. and international trademark & copyright legislation. The legal version of this report can be accessed at https://www.americanbankingnews.com/2017/07/09/rio-tinto-plc-rio-pt-raised-to-gbx-2900-at-goldman-sachs-group-inc-the.html.
In related news, insider Jean-Sébastien Jacques sold 12 shares of the firm’s stock in a transaction dated Wednesday, April 19th. The shares were sold at an average price of GBX 3,031 ($39.26), for a total value of £363.72 ($471.14). Also, insider Christopher Lynch sold 7,582 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of GBX 3,108 ($40.26), for a total transaction of £235,648.56 ($305,244.25). Insiders sold a total of 7,599 shares of company stock valued at $23,616,383 over the last quarter.
About Rio Tinto plc
Rio Tinto plc is a mining and metals company. The Company’s business is finding, mining and processing mineral resources. The Company’s segments include Iron Ore, Aluminium, Copper & Diamonds, Energy & Minerals and Other Operations. The Company operates an iron ore business, supplying the global seaborne iron ore trade.
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.