Rio Tinto plc (RIO) Given Average Recommendation of “Buy” by Brokerages
Rio Tinto plc (LON:RIO) has received an average rating of “Buy” from the twenty analysts that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, five have assigned a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month target price among analysts that have issued a report on the stock in the last year is GBX 3,895.83 ($50.31).
RIO has been the topic of a number of analyst reports. UBS AG set a GBX 3,750 ($48.43) price target on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, August 30th. HSBC Holdings plc reiterated a “buy” rating and issued a GBX 3,800 ($49.08) price target on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Barclays PLC reiterated an “overweight” rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. Jefferies Group LLC increased their price target on shares of Rio Tinto plc from GBX 4,000 ($51.66) to GBX 4,200 ($54.24) and gave the company a “buy” rating in a research report on Thursday, August 31st. Finally, Royal Bank Of Canada set a GBX 4,200 ($54.24) price target on shares of Rio Tinto plc and gave the company a “buy” rating in a research report on Thursday, June 29th.
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In other news, insider Jean-Sébastien Jacques purchased 11 shares of Rio Tinto plc stock in a transaction dated Monday, July 17th. The shares were bought at an average cost of GBX 3,501 ($45.22) per share, for a total transaction of £385.11 ($497.37). Also, insider W Sam H. Laidlaw purchased 7,500 shares of Rio Tinto plc stock in a transaction dated Monday, August 14th. The shares were purchased at an average price of GBX 3,420 ($44.17) per share, for a total transaction of £256,500 ($331,266.95).
Rio Tinto plc (LON:RIO) traded down 3.10% during mid-day trading on Friday, hitting GBX 3600.50. 4,125,296 shares of the company were exchanged. The company has a 50 day moving average of GBX 3,544.35 and a 200 day moving average 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. The stock’s market cap is GBX 64.55 billion.
Rio Tinto plc (LON:RIO) last released its earnings results on Wednesday, August 2nd. The company reported $2.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.40 by $0.21. Rio Tinto plc had a net margin of 17.01% and a return on equity of 16.16%. On average, equities research analysts expect that Rio Tinto plc will post $4.28 earnings per share for the current fiscal year.
The firm also recently announced a dividend, which will be paid on Thursday, September 21st. Shareholders of record on Thursday, August 10th will be given a GBX 83.13 ($1.07) dividend. This represents a yield of 2.31%. The ex-dividend date is Thursday, August 10th.
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.
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