Macquarie Reiterates “Outperform” Rating for Rio Tinto (RIO)

Rio Tinto (LON:RIO)‘s stock had its “outperform” rating reissued by Macquarie in a report released on Friday. They currently have a GBX 4,400 ($58.93) price objective on the stock. Macquarie’s target price would suggest a potential upside of 25.64% from the company’s current price.

A number of other research firms also recently weighed in on RIO. Deutsche Bank increased their target price on shares of Rio Tinto from GBX 4,200 ($56.25) to GBX 4,300 ($57.59) and gave the company a “buy” rating in a research report on Tuesday, September 12th. Goldman Sachs Group set a GBX 2,900 ($38.84) price objective on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Thursday, August 3rd. Morgan Stanley set a GBX 3,700 ($49.55) price objective on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Wednesday. UBS set a GBX 3,750 ($50.22) price objective on shares of Rio Tinto and gave the stock a “buy” rating in a report on Wednesday, August 30th. Finally, reaffirmed a “buy” rating and issued a GBX 3,800 ($50.89) price objective on shares of Rio Tinto in a report on Wednesday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of GBX 3,962.89 ($53.07).

Shares of Rio Tinto (RIO) traded down £3,466.48 ($4,642.40) during mid-day trading on Friday, reaching GBX 3,502 ($46.90). 4,160,216 shares of the company’s stock were exchanged, compared to its average volume of 3,810,000. Rio Tinto has a twelve month low of GBX 2,882.50 ($38.60) and a twelve month high of GBX 4,226.56 ($56.60).

In related news, insider Jean-Sébastien Jacques bought 10 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were purchased at an average price of GBX 3,721 ($49.83) per share, with a total value of £372.10 ($498.33).

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About Rio Tinto

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.

Analyst Recommendations for Rio Tinto (LON:RIO)

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