Rio Tinto (LON:RIO) was upgraded by Goldman Sachs Group to a “buy” rating in a report issued on Tuesday. The brokerage presently has a GBX 5,000 ($65.33) price objective on the stock, up from their prior price objective of GBX 4,100 ($53.57). Goldman Sachs Group’s target price would indicate a potential upside of 16.23% from the stock’s current price.
Other research analysts have also issued reports about the company. JPMorgan Chase & Co. raised their target price on Rio Tinto from GBX 4,850 ($63.37) to GBX 4,900 ($64.03) and gave the stock an “overweight” rating in a research report on Wednesday, October 17th. Deutsche Bank reiterated a “hold” rating on shares of Rio Tinto in a report on Wednesday, October 17th. UBS Group reiterated a “buy” rating on shares of Rio Tinto in a report on Friday, January 11th. Oddo Securities assumed coverage on Rio Tinto in a report on Wednesday, January 23rd. They set a “reduce” rating and a GBX 3,800 ($49.65) price target for the company. Finally, Societe Generale downgraded Rio Tinto from a “buy” rating to a “hold” rating and decreased their price target for the stock from GBX 4,050 ($52.92) to GBX 3,830 ($50.05) in a report on Thursday, October 25th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of GBX 4,167.67 ($54.46).
Shares of LON:RIO opened at GBX 4,301.99 ($56.21) on Tuesday. 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 Rio Tinto news, insider Jean-Sébastien Jacques sold 11,251 shares of Rio Tinto stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of GBX 3,751 ($49.01), for a total transaction of £422,025.01 ($551,450.42). Also, insider Jakob Stausholm sold 15,000 shares of Rio Tinto 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 transaction of £549,600 ($718,149.75). Over the last 90 days, insiders 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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