Rio Tinto (RIO) Cut to Neutral at Credit Suisse Group

Rio Tinto (LON:RIO) was downgraded by equities research analysts at Credit Suisse Group to a “neutral” rating in a research note issued on Friday.

Other equities analysts have also issued reports about the company. UBS Group set a GBX 4,600 ($60.11) price target on Rio Tinto and gave the company a “buy” rating in a research note on Thursday, October 18th. JPMorgan Chase & Co. set a GBX 5,000 ($65.33) price target on Rio Tinto and gave the company a “buy” rating in a research note on Tuesday, October 23rd. HSBC dropped their price target on Rio Tinto from GBX 4,880 ($63.77) to GBX 4,790 ($62.59) and set a “buy” rating for the company in a research note on Wednesday, October 17th. Finally, Citigroup reissued a “buy” rating and set a GBX 4,400 ($57.49) price target on shares of Rio Tinto in a research note on Monday, December 10th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of GBX 4,117.67 ($53.80).

Shares of Rio Tinto stock opened at GBX 4,275 ($55.86) on Friday. Rio Tinto has a 12 month low of GBX 2,882.50 ($37.66) and a 12 month high of GBX 4,226.56 ($55.23).

In other news, insider Jakob Stausholm sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 29th. The stock was sold at an average price of GBX 3,664 ($47.88), for a total value of £549,600 ($718,149.75). Also, insider Jean-Sébastien Jacques sold 11 shares of the firm’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of GBX 3,862 ($50.46), for a total value of £424.82 ($555.10). Insiders sold a total of 26,262 shares of company stock valued at $97,204,983 over the last ninety days.

About Rio Tinto

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.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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