Credit Suisse Group AG Reiterates GBX 2,750 Price Target for Rio Tinto plc (RIO)
Rio Tinto plc (LON:RIO) has been assigned a GBX 2,750 ($34.03) price objective by analysts at Credit Suisse Group AG in a research report issued on Friday. The brokerage currently has a a “neutral” rating on the stock. Credit Suisse Group AG’s price target points to a potential upside of 6.75% from the company’s previous close.
Several other equities research analysts also recently weighed in on the stock. Jefferies Group upped their target price on shares of Rio Tinto plc from GBX 2,800 ($34.65) to GBX 3,100 ($38.37) and gave the stock a “buy” rating in a research note on Friday. Liberum Capital cut their target price on shares of Rio Tinto plc from GBX 1,590 ($19.68) to GBX 1,485 ($18.38) and set a “sell” rating on the stock in a research note on Thursday. Citigroup Inc. downgraded shares of Rio Tinto plc to a “sell” rating and dropped their price objective for the company from GBX 2,600 ($32.18) to GBX 2,450 ($30.32) in a research report on Thursday. BNP Paribas reissued a “neutral” rating and issued a GBX 2,000 ($24.75) price objective on shares of Rio Tinto plc in a research report on Thursday, October 6th. Finally, Deutsche Bank AG increased their price objective on shares of Rio Tinto plc from GBX 3,230 ($39.98) to GBX 3,245 ($40.16) and gave the company a “buy” rating in a research report on Wednesday, October 5th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have given a buy rating to the company. Rio Tinto plc has a consensus rating of “Hold” and an average target price of GBX 2,625.96 ($32.50).
Rio Tinto plc (LON:RIO) traded up 1.55% on Friday, hitting GBX 2616.00. 2,381,622 shares of the company’s stock were exchanged. The company’s 50-day moving average price is GBX 2,452.96 and its 200-day moving average price is GBX 2,257.26. The company’s market cap is GBX 47.06 billion. Rio Tinto plc has a 12-month low of GBX 1,557.00 and a 12-month high of GBX 2,800.00.
The business also recently announced a dividend, which was paid on Thursday, September 22nd. Investors of record on Thursday, August 11th were given a GBX 33.80 ($0.42) dividend. The ex-dividend date was Thursday, August 11th. This represents a dividend yield of 1.39%.
In related news, insider Jacques,Jean-Sébastien bought 15 shares of the firm’s stock in a transaction that occurred on Monday, July 18th. The shares were acquired at an average cost of GBX 2,433 ($30.11) per share, with a total value of £364.95 ($451.67).
About Rio Tinto plc
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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