Rio Tinto plc (RIO) PT Raised to GBX 2,300 at Credit Suisse Group AG
Rio Tinto plc (LON:RIO) had its price objective lifted by analysts at Credit Suisse Group AG from GBX 2,100 ($27.41) to GBX 2,300 ($30.02) in a research note issued on Monday. The brokerage presently has a “neutral” rating on the stock. Credit Suisse Group AG’s price target would indicate a potential downside of 2.54% from the company’s previous close.
Several other equities research analysts have also commented on RIO. Deutsche Bank AG reissued a “buy” rating and set a GBX 3,000 ($39.16) price objective on shares of Rio Tinto plc in a research note on Monday, May 23rd. Macquarie reissued an “outperform” rating and set a GBX 2,400 ($31.33) price objective on shares of Rio Tinto plc in a research note on Monday, May 23rd. Jefferies Group reissued a “buy” rating and set a GBX 2,300 ($30.02) price objective on shares of Rio Tinto plc in a research note on Wednesday, May 25th. Barclays PLC boosted their price objective on shares of Rio Tinto plc from GBX 2,300 ($30.02) to GBX 2,600 ($33.94) and gave the stock an “overweight” rating in a research note on Wednesday, May 25th. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a GBX 2,250 ($29.37) price objective on shares of Rio Tinto plc in a research note on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have issued a buy rating to the company. Rio Tinto plc has a consensus rating of “Hold” and a consensus target price of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2410.50 on Monday. The stock’s 50 day moving average is GBX 2,395.41 and its 200-day moving average is GBX 2,193.63. Rio Tinto plc has a 52-week low of GBX 1,557.00 and a 52-week high of GBX 2,621.00. The company’s market capitalization is GBX 43.36 billion.
The business also recently announced a dividend, which will be paid on Thursday, September 22nd. Investors of record on Thursday, August 11th will be given a dividend of GBX 33.80 ($0.44) per share. The ex-dividend date of this dividend is Thursday, August 11th. This represents a dividend yield of 1.39%.
In related news, insider Jacques,Jean-Sébastien bought 15 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was purchased at an average price of GBX 2,433 ($31.76) per share, for a total transaction of £364.95 ($476.37).
Rio Tinto plc Company Profile
Rio Tinto plc (Rio Tinto) is a global mining company. Rio Tinto focuses on finding, mining, and processing the Earth’s mineral resources. The Company operates through five product groups, including aluminum, copper, diamonds and minerals, energy product and iron ore. Its aluminum product group includes business includes bauxite mines, large-scale alumina refineries aluminum smelters.
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