Rio Tinto plc (RIO) Given Outperform Rating at Credit Suisse Group
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating restated by stock analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday. They currently have a GBX 4,000 ($51.66) target price on the stock. Credit Suisse Group’s price objective suggests a potential upside of 7.66% from the company’s current price.
Several other equities analysts also recently weighed in on the stock. UBS AG set a GBX 3,700 ($47.79) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a report on Thursday, July 6th. Goldman Sachs Group, Inc. (The) set a GBX 3,000 ($38.74) target price on shares of Rio Tinto plc and gave the company a “neutral” rating in a report on Tuesday, August 15th. J P Morgan Chase & Co set a GBX 4,000 ($51.66) target price on shares of Rio Tinto plc and gave the company a “buy” rating in a report on Wednesday, August 2nd. Macquarie restated an “outperform” rating and set a GBX 4,000 ($51.66) target price on shares of Rio Tinto plc in a report on Wednesday, August 2nd. Finally, Royal Bank Of Canada restated a “top pick” rating and set a GBX 4,200 ($54.24) target price on shares of Rio Tinto plc in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of GBX 3,796.25 ($49.03).
Rio Tinto plc (LON RIO) traded down 3.10% during trading on Thursday, reaching GBX 3600.50. 4,125,296 shares of the company were exchanged. The firm’s market capitalization is GBX 64.55 billion. The stock has a 50 day moving average price of GBX 3,544.35 and a 200 day moving average price of GBX 3,299.73. Rio Tinto plc has a 12 month low of GBX 2,253.50 and a 12 month high of GBX 3,784.50.
In other Rio Tinto plc news, insider W Sam H. Laidlaw purchased 7,500 shares of Rio Tinto plc stock in a transaction on Monday, August 14th. The shares were purchased at an average cost of GBX 3,420 ($44.17) per share, with a total value of £256,500 ($331,266.95). Also, insider Jean-Sébastien Jacques purchased 11 shares of Rio Tinto plc stock in a transaction on Monday, July 17th. The shares were acquired at an average cost of GBX 3,501 ($45.22) per share, for a total transaction of £385.11 ($497.37).
Rio Tinto plc Company Profile
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.
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