Rio Tinto plc (RIO) Given New GBX 2,800 Price Target at Barclays PLC
Rio Tinto plc (LON:RIO) had its target price raised by Barclays PLC from GBX 2,600 ($33.94) to GBX 2,800 ($36.55) in a report released on Wednesday morning. They currently have an overweight rating on the stock.
Several other equities research analysts have also recently issued reports on the stock. Canaccord Genuity raised their price target on shares of Rio Tinto plc from GBX 2,660 ($34.72) to GBX 2,800 ($36.55) and gave the stock a buy rating in a research note on Wednesday, July 27th. Deutsche Bank AG reaffirmed a buy rating and set a GBX 3,230 ($42.16) price target on shares of Rio Tinto plc in a research note on Monday, August 8th. Jefferies Group reaffirmed a buy rating on shares of Rio Tinto plc in a research note on Friday, July 15th. Goldman Sachs Group Inc. reaffirmed a neutral rating and set a GBX 1,925 ($25.13) price target on shares of Rio Tinto plc in a research note on Tuesday, July 12th. Finally, Liberum Capital reaffirmed a sell rating and set a GBX 1,490 ($19.45) price target on shares of Rio Tinto plc in a research note on Thursday, July 14th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fifteen have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and an average price target of GBX 2,595.73 ($33.88).
Rio Tinto plc (LON:RIO) opened at 2510.50 on Wednesday. The company has a 50 day moving average of GBX 2,393.38 and a 200-day moving average of GBX 2,195.61. The firm’s market cap is GBX 45.16 billion. Rio Tinto plc has a one year low of GBX 1,557.00 and a one year high of GBX 2,621.00.
The business 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. This represents a yield of 1.39%. The ex-dividend date is Thursday, August 11th.
In related news, insider Jacques,Jean-Sébastien bought 15 shares of the business’s stock in a transaction on Monday, July 18th. The shares were 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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