Rio Tinto plc (RIO) Given Outperform Rating at Macquarie
Rio Tinto plc (LON:RIO)‘s stock had its “outperform” rating reaffirmed by equities researchers at Macquarie in a research report issued on Thursday, MarketBeat.com reports. They currently have a GBX 4,500 ($58.12) price objective on the stock. Macquarie’s target price points to a potential upside of 30.34% from the company’s previous close.
A number of other brokerages have also issued reports on RIO. J P Morgan Chase & Co restated 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 reaffirmed a “buy” rating and set a GBX 4,200 ($54.24) price target on shares of Rio Tinto plc in a report on Wednesday, July 19th. Goldman Sachs Group, Inc. (The) set a GBX 2,900 ($37.45) price target on shares of Rio Tinto plc and gave the stock a “neutral” rating in a report on Thursday, August 3rd. UBS AG set a GBX 3,750 ($48.43) price target on shares of Rio Tinto plc and gave the stock a “buy” rating in a report on Wednesday, August 30th. Finally, HSBC Holdings plc reaffirmed a “buy” rating and set a GBX 3,800 ($49.08) price target on shares of Rio Tinto plc in a report on Wednesday, August 30th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fourteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of GBX 3,801.25 ($49.09).
Shares of Rio Tinto plc (LON:RIO) traded down 1.36% during midday trading on Thursday, hitting GBX 3452.50. The stock had a trading volume of 8,881,418 shares. Rio Tinto plc has a 1-year low of GBX 2,260.50 and a 1-year high of GBX 3,784.50. The company’s 50 day moving average price is GBX 3,569.97 and its 200-day moving average price is GBX 3,301.90. The firm’s market capitalization is GBX 61.90 billion.
In related news, insider W Sam H. Laidlaw acquired 7,500 shares of the stock in a transaction on Monday, August 14th. The shares were acquired at an average price of GBX 3,420 ($44.17) per share, with a total value of £256,500 ($331,266.95). Also, insider Jean-Sébastien Jacques acquired 11 shares of the stock in a transaction on Monday, July 17th. The stock was bought 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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