UBS Group Reiterates Buy Rating for Rio Tinto (RIO)

Rio Tinto (LON:RIO)‘s stock had its “buy” rating reiterated by analysts at UBS Group in a note issued to investors on Friday, www.boersen-zeitung.de reports. They presently have a GBX 4,600 ($60.11) price target on the stock. UBS Group’s target price suggests a potential upside of 21.24% from the company’s previous close.

A number of other equities analysts also recently commented on RIO. Royal Bank of Canada reiterated a “sector performer” rating and issued a GBX 3,900 ($50.96) target price on shares of Rio Tinto in a report on Tuesday, June 26th. Deutsche Bank reiterated a “hold” rating and issued a GBX 4,700 ($61.41) target price on shares of Rio Tinto in a report on Tuesday, June 26th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a GBX 5,000 ($65.33) target price on shares of Rio Tinto in a report on Tuesday, June 19th. Goldman Sachs Group set a GBX 3,800 ($49.65) target price on shares of Rio Tinto and gave the stock a “neutral” rating in a report on Monday, June 18th. Finally, Citigroup reiterated a “buy” rating on shares of Rio Tinto in a report on Tuesday, June 19th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Rio Tinto currently has an average rating of “Hold” and an average target price of GBX 4,188.33 ($54.73).

Rio Tinto stock traded up GBX 56 ($0.73) during trading hours on Friday, reaching GBX 3,794 ($49.58). The stock had a trading volume of 4,594,678 shares, compared to its average volume of 4,860,000. Rio Tinto has a 52 week low of GBX 2,882.50 ($37.66) and a 52 week high of GBX 4,226.56 ($55.23).

In other news, insider Jean-S√©bastien Jacques sold 7 shares of the company’s stock in a transaction dated Thursday, July 19th. The shares were sold at an average price of GBX 4,078 ($53.29), for a total transaction of ¬£285.46 ($373.00).

Rio Tinto Company Profile

Rio Tinto plc, a mining and metals company, explores for, develops, produces, and processes minerals and metals worldwide. It finds, mines, and processes mineral resources, including aluminum, copper, diamonds, gold, industrial minerals (borates, titanium dioxide, and salt), iron ore, thermal and metallurgical coal, and uranium, as well as sulphuric acid, rhenium, lead carbonate, and selenium.

Further Reading: Index Funds

Analyst Recommendations for Rio Tinto (LON:RIO)

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