Rio Tinto plc (RIO) Given a GBX 4,000 Price Target by BNP Paribas Analysts
Rio Tinto plc (LON:RIO) has been assigned a GBX 4,000 ($51.66) price target by stock analysts at BNP Paribas in a report released on Wednesday. The brokerage currently has a “buy” rating on the stock. BNP Paribas’ price objective would suggest a potential upside of 11.10% from the stock’s current price.
A number of other brokerages have also issued reports on RIO. J P Morgan Chase & Co reaffirmed an “overweight” rating and set a GBX 4,150 ($53.60) target price on shares of Rio Tinto plc in a research report on Monday, May 22nd. Deutsche Bank AG reiterated a “buy” rating and issued a GBX 4,200 ($54.24) price target on shares of Rio Tinto plc in a research note on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a GBX 2,900 ($37.45) price target on Rio Tinto plc and gave the stock a “neutral” rating in a research note on Thursday, August 3rd. UBS AG set a GBX 3,750 ($48.43) price target on Rio Tinto plc and gave the stock a “buy” rating in a research note on Wednesday, August 30th. Finally, 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 note on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have assigned a buy rating to the company. Rio Tinto plc currently has a consensus rating of “Buy” and a consensus target price of GBX 3,796.25 ($49.03).
Rio Tinto plc (RIO) traded down 3.10% on Wednesday, hitting GBX 3600.50. The stock had a trading volume of 4,125,296 shares. The company’s 50-day moving average is GBX 3,544.35 and its 200-day moving average is GBX 3,299.73. Rio Tinto plc has a one year low of GBX 2,253.50 and a one year high of GBX 3,784.50. The stock’s market cap is GBX 64.55 billion.
Rio Tinto plc (LON:RIO) last announced its earnings results on Wednesday, August 2nd. The company reported $2.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.40 by $0.21. Rio Tinto plc had a return on equity of 16.16% and a net margin of 17.01%. On average, analysts anticipate that Rio Tinto plc will post $4.28 earnings per share for the current fiscal year.
In other Rio Tinto plc news, insider Jean-Sébastien Jacques acquired 11 shares of the firm’s stock in a transaction that occurred on Monday, July 17th. The stock was purchased 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 acquired 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was acquired at an average price of GBX 3,420 ($44.17) per share, with a total value of £256,500 ($331,266.95).
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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