Rio Tinto (RIO) Downgraded to Hold at Investec

Rio Tinto (LON:RIO) was downgraded by analysts at Investec to a “hold” rating in a research report issued on Friday. They presently have a GBX 4,478 ($58.51) price objective on the stock, up from their prior price objective of GBX 4,257 ($55.63). Investec’s target price would suggest a potential upside of 4.75% from the stock’s current price.

A number of other research analysts have also issued reports on the stock. JPMorgan Chase & Co. set a GBX 5,050 ($65.99) price objective on shares of Rio Tinto and gave the company a “buy” rating in a report on Monday. Royal Bank of Canada reiterated an “underperform” rating on shares of Rio Tinto in a report on Friday, February 1st. Deutsche Bank raised their price objective on shares of Rio Tinto from GBX 4,100 ($53.57) to GBX 4,250 ($55.53) and gave the company a “hold” rating in a report on Thursday, January 31st. HSBC raised their price target on shares of Rio Tinto from GBX 4,755 ($62.13) to GBX 4,780 ($62.46) and gave the stock a “buy” rating in a report on Tuesday, January 29th. Finally, Oddo Bhf set a GBX 3,800 ($49.65) price target on shares of Rio Tinto and gave the stock a “sell” rating in a report on Wednesday, January 23rd. Four analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of GBX 4,117.67 ($53.80).

Shares of LON RIO opened at GBX 4,275 ($55.86) on Friday. Rio Tinto has a 1 year low of GBX 2,882.50 ($37.66) and a 1 year high of GBX 4,226.56 ($55.23).

In other news, insider Jakob Stausholm sold 15,000 shares of Rio Tinto stock in a transaction on Thursday, November 29th. The shares were 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 Rio Tinto stock in a transaction on Tuesday, January 22nd. The shares were sold at an average price of GBX 3,862 ($50.46), for a total transaction of £424.82 ($555.10). In the last 90 days, insiders have sold 26,262 shares of company stock valued at $97,204,983.

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.

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Analyst Recommendations for Rio Tinto (LON:RIO)

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