Haitong Bank Raises Rio Tinto plc (RIO) Price Target to GBX 2,790
Rio Tinto plc (LON:RIO) had its target price hoisted by Haitong Bank from GBX 2,783 ($36.33) to GBX 2,790 ($36.42) in a research report released on Monday morning. They currently have a buy rating on the stock.
RIO has been the subject of several other reports. BNP Paribas restated a neutral rating and issued a GBX 1,950 ($25.45) price objective on shares of Rio Tinto plc in a research note on Monday, June 27th. Credit Suisse Group AG upped their target price on shares of Rio Tinto plc from GBX 2,100 ($27.41) to GBX 2,300 ($30.02) and gave the stock a neutral rating in a report on Monday. Jefferies Group reaffirmed a buy rating on shares of Rio Tinto plc in a report on Friday, July 15th. Deutsche Bank AG reaffirmed a buy rating and issued a GBX 3,000 ($39.16) target price on shares of Rio Tinto plc in a report on Monday, June 6th. Finally, Barclays PLC reaffirmed an overweight rating and issued a GBX 2,600 ($33.94) target price on shares of Rio Tinto plc in a report on Thursday, August 4th. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and fifteen have assigned a buy rating to the company. The company currently has a consensus rating of Hold and an average target price of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2497.00 on Monday. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,621.00. The stock’s market cap is GBX 44.92 billion. The stock has a 50 day moving average price of GBX 2,393.38 and a 200 day moving average price of GBX 2,195.61.
The company also recently announced a dividend, which will be paid on Thursday, September 22nd. Shareholders of record on Thursday, August 11th will be paid a GBX 33.80 ($0.44) dividend. The ex-dividend date of this dividend is Thursday, August 11th. This represents a yield of 1.39%.
In other news, insider Jacques,Jean-Sébastien bought 15 shares of the stock in a transaction on Monday, July 18th. The stock was bought at an average cost 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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