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.

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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.

Analyst Recommendations for Rio Tinto plc (LON:RIO)

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