Rio Tinto plc (RIO) Given Consensus Recommendation of “Buy” by Analysts
Rio Tinto plc (LON:RIO) has received a consensus rating of “Buy” from the twenty analysts that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is GBX 3,895.83 ($51.68).
Several research analysts have issued reports on RIO shares. Deutsche Bank AG increased their price objective on Rio Tinto plc from GBX 4,200 ($55.71) to GBX 4,300 ($57.04) and gave the stock a “buy” rating in a research report on Tuesday, September 12th. UBS AG set a GBX 3,750 ($49.74) price target on Rio Tinto plc and gave the company a “buy” rating in a research report on Wednesday, August 30th. HSBC Holdings plc restated a “buy” rating and issued a GBX 3,800 ($50.40) price target on shares of Rio Tinto plc in a research report on Wednesday, August 30th. Barclays PLC restated an “overweight” rating on shares of Rio Tinto plc in a research report on Tuesday, July 4th. Finally, Jefferies Group LLC raised their price target on Rio Tinto plc from GBX 4,000 ($53.06) to GBX 4,200 ($55.71) and gave the company a “buy” rating in a research report on Thursday, August 31st.
Shares of Rio Tinto plc (RIO) traded up 0.60% during midday trading on Wednesday, reaching GBX 3611.50. 2,564,406 shares of the company’s stock traded hands. The stock’s 50 day moving average is GBX 3,565.41 and its 200-day moving average is GBX 3,317.41. Rio Tinto plc has a 52 week low of GBX 2,550.05 and a 52 week high of GBX 3,784.50. The company’s market capitalization is GBX 64.75 billion.
The firm also recently disclosed a dividend, which was paid on Thursday, September 21st. Shareholders of record on Thursday, August 10th were issued a dividend of GBX 83.13 ($1.10) per share. The ex-dividend date of this dividend was Thursday, August 10th. This represents a yield of 2.31%.
In other Rio Tinto plc news, insider Jean-Sébastien Jacques acquired 11 shares of the company’s stock in a transaction on Monday, July 17th. The shares were bought at an average cost of GBX 3,501 ($46.44) per share, for a total transaction of £385.11 ($510.82). Also, insider W Sam H. Laidlaw acquired 7,500 shares of the company’s stock in a transaction on Monday, August 14th. The shares were acquired at an average price of GBX 3,420 ($45.36) per share, for a total transaction of £256,500 ($340,230.80).
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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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